US has as large of an income gap betwen the rich and the poor as the totalitarian state of Turkmenistan where the populace are poor and the leader was hailed as a progeny of Muhammed.
But how does this relate to the difference between mean and median wages?
2006-12-22 16:52:33 · 2 answers · asked by dane 4 in Social Science ➔ Economics
median hourly wage= $14.15 average hourly wage = $18.21
The wages do not measure the difference between rich and poor in US because the rich do not make their income from wages. To see income distribution and spread see graphs at
http://www.visualizingeconomics.com/
2006-12-23 03:38:42 · answer #1 · answered by meg 7 · 1⤊ 0⤋
I'm willing to bet the median wage is $120,000 because there are many executives with huge paycheques. But I'm willing to bet that the mean wage (average) is $45,000, becuase there are many homeless, out of work and low paid workers. Unfortunate but true.
2006-12-23 00:56:28 · answer #2 · answered by skipdip 3 · 0⤊ 0⤋