Dolfman, Michael L. (contributor) - 2006 - Rev.
U.S. economy.
The clearest indicators of an im-
proved standard of living are income
levels and household expenditures ….
Between 1901 and 2003, the average
U.S. household’s income increased 67-
fold, from $750 to $50,302. During the
same period …, household expenditures
increased 53-fold, from $769 to $40,748.
Equally dramatic is that the $40,748
would have bought more than …