Question

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Answer 1

Jerry lives in New Mexico and makes $52,000 a year. If the median annual income in New Mexico is $53,731 and the median annual income in the United States as a whole is $50,233, is Jerry likely to qualify for Chapter 7 bankruptcy?

A. No, Jerry is not likely to qualify, since his yearly income is below the median annual income of New Mexico.
B. Yes, Jerry is likely to qualify, since his yearly income is below the median annual income of New Mexico.
C. Yes, Jerry is likely to qualify, since his yearly income is above the median annual income of the United States as a whole.
D. No, Jerry is not likely to qualify, since his yearly income is above the median annual income of the United States as a whole.

Answer 2

D

Answer 3

B