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Unformatted text preview: provided by the National Restaurant Association.
more money on fast food than on higher education: My calculation is based on figures contained in “Personal Consumption Expenditures
in Millions of Current Dollars,” U.S. Commerce Department, 2000. According to the Commerce Department, 1999 consumer spending on
fast food exceeded spending on higher education ($75.6 billion); personal computers and peripherals ($25.9 billion); computer software
($8.4 billion); new cars ($101 billion); movies ($6.7 billion); books and maps ($29.5 billion); magazines and sheet music ($19 billion);
newspapers ($16.7 billion); video rentals ($8.6 billion); and records, tapes, and disks ($12.2 billion).
about one-quarter of the adult population: This is my own estimate, based on the following information from the National Restaurant
Association: about half of the adult population visits a restaurant on any given day, and more than half of the restaurant industry’s
annual revenues now come from fast food. Since the average check at a fast food restaurant is much lower that that at a full-service
restaurant, my estimate may be too conservative (and the actual number of daily fast food visits may be higher).
4 the hourly wage of the average U.S. worker: By “av...
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- Spring '08