Market labor value household production value

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You and your spouse just adopted twin girls, little Heather and Beth. You want to make sure theyare taken care of for the next 22 years. (A)Based on the following information, how much lifeinsurance needs to be purchased for the husband, if any? (B) How much, if any, needs to be purchased for the wife? Assume 3% inflation rate.

Market Labor Value Household Production Value

Husband $72,000 $15,000

Wife $15,000 $40,000

Reference no: EM13986194

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