Inequality Graphs Glossary C.E.O.: Chief executive officer, the highest ranking person in a company. Compensation: Total amount of money and other benefits, such as stock options and health insurance, an employer provides an employee in exchange for the work they do. Consumer spending: Total money spent on goods and services by individuals and families for their personal use and enjoyment. Income: Total amount of money earned, including wages, investment income, and retirement and welfare payments. ● Family income: Income earned by a family. ● Household income: Income earned by an entire household. k: Stands for thousand. For example, 100k means 100,000 and $20k means $20,000. Median: The middle of a sorted list of numbers. The median of the numbers 5, 2, 15, 9 and 17 is 9 because 9 is in the middle when the numbers are put in order (2, 5, 9, 15, 17). Net worth: The value of the financial and nonfinancial assets a person — or family — owns. When calculating a family’s net worth, you don’t just add up the money they have in the bank, but also the house they might own, the stocks and mutual funds they might have, and even the value of a wedding ring. Ratio: The relationship that exists between the size, number or amount of two things and that is often represented by two numbers. Example: The ratio of C.E.O.-to-worker compensation was 12 to 1 because for every $12 the C.E.O. earned, a worker earned $1. ● Case ratio: A ratio of positive Covid-19 cases. Example: During April 2020 the ratio of positive Covid-19 cases among the Black population to those among the white population was almost 3 to 1 because for every three Black people who got the virus, one white person did. Real (prices, income or earnings): Numbers that have been adjusted for inflation. Socioeconomic status: The social standing or class of a certain group. It is determined by a combination of social and economic factors, including income, the percentage of parents with a college degree, the percentage of single parents, the percentage of people receiving SNAP benefits (food stamps) and unemployment rates. Wealth: The value of all the property, possessions and money that someone or something has. Work force participation: The sum of all workers who are employed or actively seeking employment divided by the total noninstitutionalized, civilian working-age population..