What Counterintuitive Result Came from the Stanford/Pew Study of Total

question 55

Multiple Choice

What counterintuitive result came from the Stanford/Pew study of total family earnings compared with parent's income?

• A) Men tend to make more than women because they are paid more.
• B) Women tend to make a higher family income because they are more likely to get married.
• C) Men and women tend to earn about the same amount of income over their lifetime.
• D) Women who marry other women tend to earn more than if they married men.

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Definitions:

Net Income

The residual earnings of a company following the subtraction of all costs and taxes from its revenue.

Costing Method

An accounting approach used to value inventory and determine the cost of goods sold, which can vary, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.

Cost of Goods Sold

The direct costs tied to the production of the goods sold by a company, including materials and labor.