What are the main characteristics of high-income and low-income ...

[folubunmi]

What are the main characteristics of high-income and low-income households?
 
  What will be an ideal response?

Question 2

Jake sells Star Wars memorabilia on eBay. His annual revenue is 42,000 per year, and the explicit costs of his business are 10,000. What is his accounting profit?
 
  A) 10,000 B) 22,000 C) 32,000 D) 42,000

[dlook33]

Answer to Question 1

There are four major characteristics that influence the amount of income earned by an individual: i) Education: The more education attained by a person the higher the human capital that person has, and the more income that person enjoys; ii) Type of household: Married couples earn more, on average, than single people living alone, especially females living alone; iii) The age of householder: The oldest and youngest households have lower incomes than middle age households; and iv) Race: Individuals living in households headed by an Asian person have the highest incomes, followed by white households, Hispanic households, and then black households.

Answer to Question 2

C

[folubunmi]

Thank you

[dlook33]

No problemo