Question1of 8
1 John is a self-employed and earns a monthly income of $6,000 from his business. His wife, Mary, is an employee at a company and earns a monthly income of $4,000. They have a maid who is paid $600 a month. What is their monthly household income from work?
2 John is a self-employed and earns a monthly income of $6,000 from his business. His wife, Mary, is an employee at a company and earns a monthly income of $4,000. They have two school-going children. What is their monthly household income from work per household member?
3

What is the median monthly household income from work of these 5 households?

Monthly Household Income from Work ($)

4,000

6,000

9,000

18,000

30,000


4

What is the average monthly household income from work of these 5 households?

Monthly Household Income from Work ($)

4,000

6,000

9,000

18,000

30,000


5

If there is perfect equality where every household has the same income, the Gini coefficient will be

6

Household income deciles are derived by ranking households from lowest to highest by their incomes, and then divide them into ten equal groups.

7

Not all households are consistently in the same income decile group from one year to the next.

8

The median monthly household income from work is $6,342 in 2010 and $8,666 in 2015. What is the cumulative nominal change in median monthly household income from work?

 [Hint: Cumulative change is computed as  [(Value in Final Year)/(Value in Initial Year)-1]×100]

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