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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

A group of 10 people have the following annual incomes: Chapter 15, Problem 47P, A group of 10 people have the following annual incomes: Calculate the share of total income each Calculate the share of total income each quintile of this income distribution received. Do the top and bottom quintile s in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution for 2005?

To determine

The share of total income each quintile of this income distribution received is to be determined.

Explanation
Income Percentile
15000 3.75 Lowest
20000 5
30000 7.5 Second
30000 7.5 Second
35000 8.75 Third
40000 10 Fourth
45000 11...

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