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The average individual in a country earns an annual salary of $62,000, of which $24,800 is spent on housing, $11,160 on food, $11,1 on transportation, and $14,880 on other goods and services. Suppose the government in this country mandates that all salaries an the prices of all goods and services be reduced by 40 percent. Instructions: Enter your answers as a whole number. a. How much does the average individual now earn? $ b. How much does the average individual now spend on housing, food, transportation, and other goods and services? Housing: \$ Food: \$ Transportation: $ Other goods and services: $ c. What happened to the average individual's real salary? It has decreased. It has increased. It has not changed.

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