Question
When considering income distribution in the United States, the median income of all American households was $43,200 and the average income was $61,424. Which of
When considering income distribution in the United States, the median income of all American households was $43,200 and the average income was $61,424. Which of these two measures gives us a more realistic picture of American income?
Group of answer choices
The average income, because it is just that -- the average. That's what we use.
The median income. Half of all Americans had incomes higher than that, and half had incomes lower than that. If we were to use the average income, we have to lump in several incomes of a billion dollars or more, and that does not give us a realistic picture.
The average income, because it is higher, and publishing that number gives the outside world a better image of us.
The median income. This is derived from only the 99-percenters, and does not include the top one %.
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