EBK MICROECONOMICS
13th Edition
ISBN: 8220106798652
Author: Arnold
Publisher: CENGAGE L
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Question
Chapter 15, Problem 1QP
To determine
Percentage of total money income in different quintiles.
Expert Solution & Answer
Explanation of Solution
According to the U.S. Bureau of Census, the income distribution of the U.S. household during 2015 is represented by categorizing as different quintiles. The lowest fifth of the household receives 3.1 per cent and the fourth fifth of the household receives 23.2 per cent.
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