Does the cost of living factor into your decision

Assignment Help Macroeconomics

Reference no: EM133376965

Case Study: One of the most important uses of price indexes such as the Consumer Price Index or the Producer Price Index is to improve our understanding of how prices and costs vary from one region to the next. For this discussion we are going to focus on the cost of living in the United States since many of you will be on the job market in the next 2-4 years and trying to decide where to start your careers.

Questions:

Part 1: Have you always lived where you live now? Where else have you lived as a child or an adult and how did the cost of things like food, gas, entertainment, housing, etc. vary from place to place?

Part 2: Check out the videos below. The first one is about the cost of living in New York City and the second one is about cheap places to live in the US. *Warning: the second video includes data as well as the content creators opinions so remember they are just opinions and not facts. Urban areas tend to have a higher cost of living, but also offer a larger variety of careers, employers, entertainment, food, etc. Rural areas tend to have a lower cost of living, but can be difficult for young workers and families that are just starting their careers and desire social interaction and entertainment. The reality is that where you live has to match you as a person and your preferences. Where do you think you would prefer to have your first job or your next job? Why? Does the cost of living factor into your decision?

Reference no: EM133376965

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