--%>

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 : Curing shortages in the market Can

    Can someone help me in finding out the right answer from the following options. Curing shortages in the market for ice-cream needs: (1) Rises in the price of ice-cream. (2) Reduction in the supply of ice-cream. (3) Rises in the demand for ice-cream. (d) Reduces in the

  • Q : Signals of economic profits to

    Economic profits are: (1) signals which, for efficiency, more resources must be moved into an industry. (2) rewards to successful innovators. (3) capitalized as wealth when they can be expected over time. (4) a residual to a firm's owners for bearing

  • Q : Ex-ante investment Ex-ante investment :

    Ex-ante investment: This is planned or desired investment throughout a specific period.

  • Q : Charge price similar to marginal cost

    When a profit-maximizing monopolist who does not price discriminate charges a price equal to its marginal cost, this will: (w) minimize average cost and generate zero economic profit. (x) minimize average cost and gen

  • Q : Managerial slack or X-inefficiency

    X-inefficiency (also termed as managerial slack): (1) tends to drive up fixed costs. (2) commonly results from firms not being hard pressed through competitors. (3) can absorb much of a monopoly’s potential profit. (4) is a prob

  • Q : Price elasticity on straight line curve

    Find out the price elasticity of supply at any point on a straight line curve when A) supply curve intersects ox axis in its negative range B) supply curve intersects ox axis in its positive range. C) Supply curve passes via the origin?

  • Q : Define abnormal profit Abnormal profit:

    Abnormal profit: It is the gain earned over and above the normal profit.

  • Q : Shift in the demand for loanable funds

    Assume that this market is initially within equilibrium along with a supply of funds consequent to S0 and a demand for loanable funds consequent to I1. When the U.S. Department of the Treasury be

  • Q : Excess in balance of trade When there

    When there is an excess in the balance of trade? Answer: When export > import (that is, when export is greater than import).

  • Q : Process of Screening Can someone help

    Can someone help me in finding out the right answer from the given options. The principal who observes the qualifications of a potential agent prior to offering the agent a contract is engaging in the procedure of: (1) Signaling. (2) Finding out an efficient wage. (3)