1. In the graph, how much of the US population is represented by each person? What does the stack on top of each person represent?2. How much of the nation’s wealth is owned by the top 1 percent? By the bottom 80 percent? **Actual Distribution of Wealth in the US****Source:** Adapted from the video “Wealth Inequality in America,” 2012.**Note:** This document uses 2009 data. As of 2017, this inequality had only become greater.---In this graph, the population of 300-plus million Americans is reduced to a representative group of 100 people. So, each person in this image represents 1% of the population. This group of 100 people has been lined up according to their wealth, poorest people on the left, wealthiest on the right. These 100 people have been shaded based on which 20% quintile they fall into. Then, the total wealth of the United States, which was roughly $54 trillion in 2009, was distributed among our 100 Americans.The poorest Americans don’t even register; they are down to pocket change, and the middle class is barely distinguishable from the poor. 1% of America has 40% of all the nation’s wealth, the bottom 80% only has 12% between them. The top 1% own half the country’s stocks, bonds, and mutual funds. The bottom 50% of Americans own only 0.5% of these investments.**Graph Explanation:**- The x-axis represents the percentage of the population, divided into percentile groups from 0% to 100%.- The y-axis illustrates the amount of wealth each percentile group holds, with the poorest ("THE POOR") on the left and the richest ("THE RICH") on the right.- The graph demonstrates a sharp rise on the right side, indicating how the top 1% controls a significant portion of the wealth, whereas there is very little wealth among the middle class and poorest sections.

This graph is a representation of the actual distribution of wealth in US. This graph divides the…

1. In the graph, how much of the US population is represented by each person? What does the stack on top of each person represent? 2. How much of the nation's wealth is owned by the top 1 percent? By the bottom 80 percent?

1. In the graph, how much of the US population is represented by each person? What does the stack on top of each person represent? 2. How much of the nation's wealth is owned by the top 1 percent? By the bottom 80 percent?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Life in the Developing Nations: Population and Poverty 1.What is the distribution of the…

A: The aim of this question is to show the dynamics of population distribution, income and poverty…

Q: Which statements are true of the private sector? Choose all that apply. a. Employees are…

A: The private sector utilizes laborers through individual entrepreneurs, enterprises, or other…

Q: Scholars have identified many different broad “types" of interest groups. Which type can best be…

A: Today, there are so many organised lobbyists. They representing all parts of society and addressing…

Q: Match the definitions on the left with their correct terms on the left. an economic system in which…

A: There are many kinds of economy where the economic decisions are taken by the different entities and…

Q: Examine your data from your “Country Organizer 2021” and your map that is now colored in. What…

A: The aim is to explain the economic data correlates to the wealth or poverty of a country based on…

Q: By using graph, explain how might a drought destroys half of all the farm crops for famers?

A: Drought is the situation when rain does not occur and all the land becomes barren. Moreover, drought…

Q: 1.Choose one company (preferably local) and analyze the main economic activity of the company.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Explain the key terms frequently used in research writing. • Credibility: • Transferability: •…

A: Research writing refers to the documentation of the research conducted. It includes the research…

Q: In communism, what is the concept of “family” ?

A: Communism refers to the system of social organization where all the property is owned by the…

Q: In 1950, Nicaragua and Brazil had roughly the same size economies. Now, Brazil's economy is almost…

A: Economic analysis refers to a systematic course of looking at and assessing economic data, patterns,…

Q: 22. Define the following: Per capita Income Monetary Policy World Bank International Monetary…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: 28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capita of $75,000. Which of…

A: Exception is “Country B has lower productivity” Higher GDP per capital denotes higher standards of…

Q: In the YouTube video entitled, "Commanding Heights - The Agony of Reform," what important lessons…

A: "Commanding heights" is a term used to describe the economic components. Components that…

Q: Economic mobility refers to __________________. A company's ability to pay its bills from cash or…

A: Mobility means ability of an individual to move freely from one place to another. When the term…

Q: 1) Are there ways that someone can use to account for a country's equitable distribution of income…

A: Since you've posted multiple questions and haven't specified which one you'd like us to answer,…

Q: Q.2 - Why is the mercantilist view more appropriate when thinking about a household's wealth than a…

A: Answer - Need to find- Why is the mercantilist view more appropriate when thinking about a…

Question

1. In the graph, how much of the US population is represented by each person? What does the stack on top of each person represent?

2. How much of the nation’s wealth is owned by the top 1 percent? By the bottom 80 percent?

**Actual Distribution of Wealth in the US**

**Source:** Adapted from the video “Wealth Inequality in America,” 2012.

**Note:** This document uses 2009 data. As of 2017, this inequality had only become greater.

---

In this graph, the population of 300-plus million Americans is reduced to a representative group of 100 people. So, each person in this image represents 1% of the population. This group of 100 people has been lined up according to their wealth, poorest people on the left, wealthiest on the right. These 100 people have been shaded based on which 20% quintile they fall into. Then, the total wealth of the United States, which was roughly $54 trillion in 2009, was distributed among our 100 Americans.

The poorest Americans don’t even register; they are down to pocket change, and the middle class is barely distinguishable from the poor. 1% of America has 40% of all the nation’s wealth, the bottom 80% only has 12% between them. The top 1% own half the country’s stocks, bonds, and mutual funds. The bottom 50% of Americans own only 0.5% of these investments.

**Graph Explanation:**

- The x-axis represents the percentage of the population, divided into percentile groups from 0% to 100%.
- The y-axis illustrates the amount of wealth each percentile group holds, with the poorest ("THE POOR") on the left and the richest ("THE RICH") on the right.
- The graph demonstrates a sharp rise on the right side, indicating how the top 1% controls a significant portion of the wealth, whereas there is very little wealth among the middle class and poorest sections.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Asap pls
Suppose a country’s total output is growing 10 percent per year, but its population is growing 11 percent per year. What will happen to living standards? a. Rise. b. Fall. c. Remain the same.
Explain Human Capital Theory: who are the major contributors and what it is about?
Which of the following is not a dilemma of social capital? A. Some groups can promote values that do not align with the majority’s view of a good society. B. Some associations allow only members of certain status. C. Groups allow people to bond and create communities. D. Some groups have very strong ties that can threaten the larger, collective good.