Bundle: Microeconomics, 13th + Aplia, 1 Term Printed Access Card
13th Edition
ISBN: 9781337742535
Author: Roger A. Arnold
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
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.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Should income from illegal activity/sources be as part of gross income?
What do the charts tell us about the distribution of income in the U.S.?
Personal income PI is
Select one:
a. All income received by households
b. All income earned by households minus personal taxes
c. All income received by households minus personal taxes
d. None of the answers are correct
e. All income earned by households
Chapter 15 Solutions
Bundle: Microeconomics, 13th + Aplia, 1 Term Printed Access Card
Knowledge Booster
Similar questions
- Explain income and wealth more evenly distributedarrow_forward12. Fill in the blankarrow_forwardUse the following table, based on BEA data from the first quarter of 2013 (billions of dollars), to calculate items (a) and (b): a) Other income b) Net factor income Compensation of employees                      8,737 Corporate profits                                                         2,021 National income                                          14,313 Gross domestic product                                             16,535 Gross national product                              16,772 Factor income to the rest of the world     237arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
- Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co