1. If 80% of households earn 55% of the income, what percent of income does the richest quintile earn? 2. What percent of income does the second richest quintile earn? 3. If the middle quintile earns 15% of the income, what percent of income does the second poorest quintile earn?
1. If 80% of households earn 55% of the income, what percent of income does the richest quintile earn? 2. What percent of income does the second richest quintile earn? 3. If the middle quintile earns 15% of the income, what percent of income does the second poorest quintile earn?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. If 80% of households earn 55% of the income, what percent of income does the richest quintile earn?
2. What percent of income does the second richest quintile earn?
3. If the middle quintile earns 15% of the income, what percent of income does the second poorest quintile earn?
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