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4. Suppose country A has the following cumulative distribution of income: Cumulative Cumulative Percent of Families Percent of Total Income 20 5 40 15 50 27 60 30 80 50 90 70 95 82 Compute the quintile shares. What is the share of total income of the top 10 percent of families and of the top 5 percent of families?

4. Suppose country A has the following cumulative distribution of income: Cumulative Cumulative Percent of Families Percent of Total Income 20 5 40 15 50 27 60 30 80 50 90 70 95 82 Compute the quintile shares. What is the share of total income of the top 10 percent of families and of the top 5 percent of families?

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 47P: A group of 10 people have the following annual incomes:...
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4. Suppose country A has the following cumulative distribution of income: Cumulative Cumulative Percent of Percent of Families Total Income 20 5 40 15 50 27 60 30 80 50 90 70 95 82 Compute the quintile shares. What is the share of total income of the top 10 percent of families and of the top 5 percent of families?
Transcribed Image Text:4. Suppose country A has the following cumulative distribution of income: Cumulative Cumulative Percent of Percent of Families Total Income 20 5 40 15 50 27 60 30 80 50 90 70 95 82 Compute the quintile shares. What is the share of total income of the top 10 percent of families and of the top 5 percent of families?
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