Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 28, 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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Chapter 28 Solutions
Economics (MindTap Course List)
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Similar questions
- Consider by $150. The average citizen there spends 90% of each additional dollar of income earned. a government that raises taxes Calculate the total change in income (Y) that will result. Carefully follow all numeric directions. Use a negative number to indicate a decrease in Y and a positive number to indicate an increase.arrow_forwardIncome inequalities exist in the U.S. What are some policy tools the government could use to try and equalize incomes between wealthier households and poorer households? Describe two policies. Have these policies been successful in the past? Why or why not ?arrow_forwardWhich factors are most important in household income?arrow_forward
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