Average Incomes of Children - with Low Income Parents (51000) 45- 40- 35- 30- 25- Upward Mobility versus Median Rent by Neighborhood Opportunity Bargains Normandy Fark 1,000 Central District 1,500 Median 2 Bedroom Rent 2,000 2,500 The image above displays the relationship between the cost of living as measured by the average rent of 2-bedroom housing, and income mobility as measured by the average income of children with low-income parents. Data for this image are from Seattle. Two neighborhoods are highlighted: Normandy Park and the Central District. Many people that receive housing vouchers would like to move to areas with high opportunities for their children, but assume those areas are too expensive. How do Normandy Park and the Central District illustrate the idea of "opportunity bargains"? O there is a trade-off between the cost of living and higher income growth for the children. O for families living in the Central District, Normand Park is more expensive to live in and has less income growth for the children. O for families living in the Central District, Normand Park is less expensive to live in and has higher income growth for the children. O average incomes for children with low-income parents is highest in the most expensive areas
Average Incomes of Children - with Low Income Parents (51000) 45- 40- 35- 30- 25- Upward Mobility versus Median Rent by Neighborhood Opportunity Bargains Normandy Fark 1,000 Central District 1,500 Median 2 Bedroom Rent 2,000 2,500 The image above displays the relationship between the cost of living as measured by the average rent of 2-bedroom housing, and income mobility as measured by the average income of children with low-income parents. Data for this image are from Seattle. Two neighborhoods are highlighted: Normandy Park and the Central District. Many people that receive housing vouchers would like to move to areas with high opportunities for their children, but assume those areas are too expensive. How do Normandy Park and the Central District illustrate the idea of "opportunity bargains"? O there is a trade-off between the cost of living and higher income growth for the children. O for families living in the Central District, Normand Park is more expensive to live in and has less income growth for the children. O for families living in the Central District, Normand Park is less expensive to live in and has higher income growth for the children. O average incomes for children with low-income parents is highest in the most expensive areas
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:$1000)
Average Incomes of Children
with Low Income Parents (5)
9
50-
45-
40-
35-
30-
25-
Upward Mobility versus Median Rent by Neighborhood
Opportunity Bargains
Normandy Parke
1,000
Central District
1,500
Median 2 Bedroom Rent
2,000
2,500
The image above displays the relationship between the cost of living as
measured by the average rent of 2-bedroom housing, and income mobility as
measured by the average income of children with low-income parents. Data for
this image are from Seattle. Two neighborhoods are highlighted: Normandy Park
and the Central District.
Many people that receive housing vouchers would like to move to areas with
high opportunities for their children, but assume those areas are too expensive.
How do Normandy Park and the Central District illustrate the idea of
*opportunity bargains"?
there is a trade-off between the cost of living and higher income growth for the
children.
for families living in the Central District, Normand Park is more expensive to live in and
has less income growth for the children.
O for families living in the Central District, Normand Park is less expensive to live in and
has higher income growth for the children.
O average incomes for children with low-income parents is highest in the most expensive
areas.
D
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