The Following Table Shows the Distribution of Household Incomes for a Sample

question 84

Multiple Choice

The following table shows the distribution of household incomes for a sample of 1,000 households in the U.S. with incomes up to $100,000.

Use this information to estimate, to the nearest $1,000, the average household income for such households.

• A) \(\$ 32,000\)
• B) \(\$ 40,000\)
• C) \(\$ 38,000\)
• D) \(\$ 31,000\)
• E) \(\$ 42,000\)

---

Definitions:

Usury Laws

Regulations that impose a maximum interest rate that can be charged on loans to prevent excessive and unfair interest rates.

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, or the income earned on deposited funds.

Rent

A periodic payment made by a tenant to a landlord for the use of land, premises, or other property.

Surplus

An excess of income or assets over expenditure in a given period, often referring to a government's budget.