Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 20, Problem 2IAPA
To determine
Values of A,B,C, and D
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Use the table related to the size distribution of household income to answer the following questions.
Share of Total
Income
Income Group
Highest fifth
Second fifth
Third fifth
2019 Income
Above $142,000
$86,001-$142,000
$54,001-$86,000
Average Income
$ 254,400
51.9%
111,100
22.7
68,900
14.1
Fourth fifth
Lowest fifth
$28,001-$54,000
0-$28,000
40,700
8.3
15,300
3.1
ok
According to the table:
ences
Instructions: In part a, enter your response as a whole number. In part b, round your response to one decimal place.
a. What is the average household income in the United States?
98080
b. What percentage of the average household income of people in the highest fifth would have to be taxed away to bring them down
to that average?
%
Pls help with below homework.
Chapter 20 Solutions
Foundations of Economics (8th Edition)
Ch. 20 - Prob. 1SPPACh. 20 - Prob. 2SPPACh. 20 - Prob. 3SPPACh. 20 - Prob. 4SPPACh. 20 - Prob. 5SPPACh. 20 - Prob. 6SPPACh. 20 - Prob. 7SPPACh. 20 - Prob. 8SPPACh. 20 - Prob. 9SPPACh. 20 - Prob. 1IAPA
Ch. 20 - Prob. 2IAPACh. 20 - Prob. 3IAPACh. 20 - Prob. 4IAPACh. 20 - Prob. 5IAPACh. 20 - Prob. 6IAPACh. 20 - Prob. 7IAPACh. 20 - Prob. 8IAPACh. 20 - Prob. 9IAPACh. 20 - Prob. 10IAPACh. 20 - Prob. 11IAPACh. 20 - Prob. 1MCQCh. 20 - Prob. 2MCQCh. 20 - Prob. 3MCQCh. 20 - Prob. 4MCQCh. 20 - Prob. 5MCQCh. 20 - Prob. 6MCQCh. 20 - Prob. 7MCQ
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