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Author Question: The table shows the income share for each household quintile and the cumulative shares.Households ... (Read 280 times)

curls713

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on: Nov 23, 2022

Question 1

Income Inequality and Poverty Rates

The table shows the distribution of money income in Fakelandia.
HouseholdsMoney income (percentage)
Lowest 20 percent4.9​
Second 20 percent12.9​
Third 20 percent16.9​
Fourth 20 percent24.5​
Highest 20 percent40.8​
What is the cumulative percentage of income earned by the bottom 80 percent of households?
◦ 24.5%
◦ 95.1%
◦ 59.2%
◦ 12.9%

Question 2

The table shows the income share for each household quintile and the cumulative shares.
Households (quintile)Income (%)Income (cumulative %)
First8.4​8.4​
Second13.7​​
Third​39.3​
Fourth23.6​​
Fifth​​
What is the income (%) for the third quintile? What is the income (cumulative %) for the fourth quintile?
◦ 25.6%, 62.9%
◦ 17.2%, 62.9%
◦ 17.2%, 40.8%
◦ 25.6%, 40.8%
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by curls713 on Nov 23, 2022

studyforce.com

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Reply #1 on: Nov 23, 2022
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curls713

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Reply 2 on: Nov 23, 2022
Great answer, keep it coming :)

patma1981

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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