Answer:
George LaDuc is the manager of a nonprofit agency that provides transportation for parents of children with life-threatening diseases. Each year the prices of necessities such as groceries, housing, and electricity continue to rise, but LaDuc's salary stays the same. LaDuc's _purchasing power____ is being eroded by his stagnant salary and increasing prices.
Explanation:
LaDuc's purchasing power is the value of the dollar expressed in relation to the quantity of goods or services that his income can buy. Â This value can be eroded by stagnant salary and increasing inflation rate. Â This means that the purchasing power of La Duc depends not on his income but on the quantity of goods and services that he can buy with the income.
