PART 1 (24%)
COMPARISON OF THE CITY OF ODESSA, TEXAS TO THE CITY OF BOSTON, MASSACHUSETTS
A)(12%)Go to U. S. Census Bureau State and County Quick Facts. Use this to provide the following information:
Odessa, Texas Boston, Massachusetts
Percentage of Those 25 Years
Of Age or Older Who Have A
Bachelor’s Degree or Higher
Per Capita Income in Past 12 Months
(2019 Dollars) 2015-2019
B)(12%)Let’s, for this exercise, focus solely on per capita income and cost of living differences/purchasing power.
Accounting for cost of living differences and purchasing power, which City has higher per capita money income (and by how much)? Briefly explain your answer.
To address this, you will need to use the CNN Money cost of living calculator located at: money.cnn.com/calculator/pf/cost- of-living. One way to do this is to assume a person currently lives in Odessa. Input that this person has annual income equal to the per capita money income of Odessa (note: the CNN Money site only allows you to input an income to the nearest $5K). About what would this person have to annually earn in Boston to have the same purchasing power (for housing, groceries etc.) as he/she does currently living in Odessa with income equal to the per capita income of Odessa? What is the actual per capita income in Boston? How does this compare to your answer to the previous question?