Problem
Jim spends all his income on apartment rent, food, clothing, and vacations. He gets a pay raise from $3,000 a month to $4,000 a month. At the same time, airfares and other vacation-related expenses increase by 50 percent. How has Jim's budget in terms of airfares and other vacation-related expenses changed? Is Jim better off or worse off in his new situation?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.