In the United States in 2017 the median household income was $59,039. Thismeans that:O A. the average income for a typical household was $59,039.OB. households earning at or below $59,039 were classified as being in povertyC. half of all the households in the United States earned less than $59,039 and halfof all households in the United States earned more than $59,039.OD. only median households earn more than $59,039.

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In the United States in 2017 the median household income was $59,039. This means that:

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter18: Poverty And Redistribution

Section: Chapter Questions

Problem 1.1P

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Question

In the United States in 2017 the median household income was $59,039. This
means that:
O A. the average income for a typical household was $59,039.
OB. households earning at or below $59,039 were classified as being in poverty
C. half of all the households in the United States earned less than $59,039 and half
of all households in the United States earned more than $59,039.
OD. only median households earn more than $59,039.

Expert Solution

Step 1

Median income divide the population in to two parts.

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