--%>

Compare average household income

How you compare the average household income of the different countries?

E

Expert

Verified

For the best answer of this question it is best to look at median household income . Median household income signifies the statistical mid-point, with half of all households making more and half making less.

For the developed nations, median household income figures range from $30,000 to $55,000. For US states median household income figures range from $32,000 to $57,000. Overall, median household income levels among developed nations are similar to those found among US states.

   Related Questions in Microeconomics

  • Q : Price mechanism Write down the benefits

    Write down the benefits of leaving the allocation of countries resources to price mechanism?

  • Q : Problem on rational ignorance An

    An illustration of rational ignorance is demonstrated when you: (1) Are elected to a political office. (2) Settle for an other half who is not your "ideal" mate. (3) Eat a steak which increases your cholesterol level. (4) Were suspended from high scho

  • Q : In the quintile distribution of income

    In the quintile distribution of income, the term "quintile" represents

  • Q : Problem on Buyers market I have a

    I have a problem in economics on Buyers market. Please help me in the following question. The buyer’s market is a market in which: (1) Queuing to secure goods is very common. (2) The present market price is beneath equilibrium. (3) Quantity dema

  • Q : Illustration of a strategic barrier An

    An illustration of a strategic barrier would be a: (w) high-technology firm registering a patent on their newly-designed time machine. (x) law establishing the USPS as the only mail service in the United States. (y) set of costly advertising campaigns

  • Q : Total variable costs of

    This profit-maximizing competitive firm’s total variable costs or TVC as in illustrated figure can be computed area as: (i) 0P3fq4. (ii) P2P1de. (iii) P3P2ef. (iv) 0P2eq4. (v) aced.

    Q : Maximizing firm profit conflicts with

    Whenever maximizing the firm profit conflicts with self-interests of business managers, this can lead to the: (i) Principal-agent problems. (ii) Negative accounting gain. (iii) Maximization of the revenues. (iv) Negative economic gain.

    Q : Increasing elasticity of the demand for

    The elasticity of the demand for labor tends to rise as there are raises within the: (1) amount of capital utilized in a production process. (2) rate of automation in an industry. (3) difficulty in substituting between different resources. (4) share o

  • Q : Maturity on a consol bond or perpetuity

    The yield to maturity on a consol bond or perpetuity which pays $200 annually and sells for $1000 is: (w) 5 percent. (x) 10 percent. (y) 20 percent. (z) 25 percent. I need a good answer on the topic of Econ

  • Q : Small market capitalization Why would

    Why would stocks perform better in the month of January than other months of the year, and discuss whether small market capitalization companies outperform large capitalization companies in the short to medium term?