Economics Question:
How do the average household income of the different countries compare?
Answer:
In order to answer this question it is best to look at median household income. Median household income represents 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.
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.
| Previous Question | Next Question |
| How does one arrive at a competitive pricing strategy for a multi-service practice where there are no specific products in question? | What is the marginal cost of capital? |