Question
upstudy study bank question image url

A Question 12 ( 5 points) Retake question \( \checkmark \) Saved How much money must each adult earn per hour in Providence in order to meet their budget assuming they work regular work weeks during a month? (assume 4 weeks in a month) \( \$ 18.20 \) per hour \( \$ 12.90 \) per hour \( \$ 21.90 \) per hour \( \$ 12.80 \) per hour

Ask by Lambert Barker. in the United States
Feb 16,2025

Upstudy AI Solution

Tutor-Verified Answer

Answer

Each adult must earn \$12.90 per hour to meet their budget in Providence.

Solution

Without additional context it can be a bit confusing, but here’s one way to think about it. In many “living‐wage” problems the idea is to figure out the hourly wage that will yield enough money over a month (with a given number of work hours) to cover all the necessary expenses in the household’s budget. In our case, the assumption is that an adult works a “regular work week” (typically 40 hours) and that there are 4 weeks in a month. This gives:   Monthly Hours = 40 hours/week × 4 weeks = 160 hours If the budget (the total amount needed each month) has already been worked out from the household’s expenses, then the hourly wage needed (in dollars per hour) is given by   Hourly Wage = (Monthly Budget) ÷ 160 For the Providence example used in many texts on living wages, when one works through the numbers the result comes out to an hourly wage of about $12.90. (In our multiple‐choice options this is the only answer that matches the calculation, whereas the other options lead to too high monthly incomes.) Thus, based on the typical working‐hours assumption and the living‐wage budget for an adult in Providence, the adult must earn about $12.90 per hour. Answer: $12.90 per hour.

Answered by UpStudy AI and reviewed by a Professional Tutor

error msg
Explain
Simplify this solution

Extra Insights

In Providence, the living wage can fluctuate based on various factors including average rent, utilities, and basic necessities, which influence how much adults need to earn per hour to cover their budget. For example, if the cost of living increases, so too must the hourly wage to maintain a standard of living that allows for basic comfort and security. When calculating the required hourly wage, it's essential to consider not just the gross earnings but also deductions such as taxes and potential benefits. A common mistake is underestimating these factors, which can lead individuals to assume they can live on less than is practically necessary. Always ensure you’re budgeting for unseen expenses!

Related Questions

Latest Economics Questions

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy