Which of the following statements is true about the earning power of an individual?

Question

Quizplus · Accepted Answer

Income varies across different geographic locations due to varying costs of living. This is because the cost of living in a particular location affects the purchasing power of an individual's income. For example, someone earning $50,000 a year in a city with a high cost of living would have less purchasing power than someone earning the same amount in a city with a lower cost of living.

Which of the Following Statements Is True About the Earning