Just go into flipping section < Meathead's thread.
The purpose of the thread is to ask questions like that.
JD77
Pretty hard to say if it isn't earning. I mean, it could be a niche where CTR high, or it could be in a niche where the CTR is generally low. I have a site ranking fairly high, more searches than your keywords, $14 CPC, but horrible CTR (health niche).
Why don't you start monetizing it? I'm not quite understanding why you wouldn't monetize it if it is ranking #1.