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5. Make an eyeball estimate of what percent of US wealth is owned by the poorest 20 percent.

5. Make an eyeball estimate of what percent of US wealth is owned by the poorest 20 percent.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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5. Make an eyeball estimate of what percent of US wealth is owned by the poorest 20 percent.
Transcribed Image Text:5. Make an eyeball estimate of what percent of US wealth is owned by the poorest 20 percent.
Document A Source: Adapted from the video "Wealth Inequality in America," 2012; and the Organization for Economic Coop- eration and Development, 2015. Note: In 2011, a Harvard professor surveyed more than 5,000 Americans on how they thought wealth was distributed in the United States and how it should be distributed. The top two bars show the results of the survey by quintile. The bottom bar shows the actual distribution of wealth in the United States. Public Perceptions of Economic Inequality in the US EV Presumed Distribution of Wealth wealthiest fourth 20% middle 20% second 20% 20% Ideal Distribution of Wealth wealthiest poorest 20% fourth 20% middle 20% second 20% 20% poorest 20% Actual Distribution of Wealth wealthiest 20% Note: In 2015, the wealthiest 20 percent of Americans owned 88 percent of the nation's wealth. The second- wealthiest quintile owned 9 percent. The middle quintile owned 3 percent. The bottom two quintiles owned less than 1 percent. fourth 20 middle 20% poorest second %07
Transcribed Image Text:Document A Source: Adapted from the video "Wealth Inequality in America," 2012; and the Organization for Economic Coop- eration and Development, 2015. Note: In 2011, a Harvard professor surveyed more than 5,000 Americans on how they thought wealth was distributed in the United States and how it should be distributed. The top two bars show the results of the survey by quintile. The bottom bar shows the actual distribution of wealth in the United States. Public Perceptions of Economic Inequality in the US EV Presumed Distribution of Wealth wealthiest fourth 20% middle 20% second 20% 20% Ideal Distribution of Wealth wealthiest poorest 20% fourth 20% middle 20% second 20% 20% poorest 20% Actual Distribution of Wealth wealthiest 20% Note: In 2015, the wealthiest 20 percent of Americans owned 88 percent of the nation's wealth. The second- wealthiest quintile owned 9 percent. The middle quintile owned 3 percent. The bottom two quintiles owned less than 1 percent. fourth 20 middle 20% poorest second %07
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