In 1970,the typical U.S.household earned about $8,700.In 2015,the typical U.S.household earned about $56,516.If adjusted for inflation,the gross income of the typical U.S.household in 2015 relative to 1970 has

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While the typical U.S.household earned only about $8,700 of income in 1970,it earned about $56,516 in 2015.When gross income is adjusted for inflation,however,income of that typical U.S.household was relatively stable.In fact,inflation-adjusted income has only varied between $47,130 and $57,909 since 1970.

In 1970,the Typical U