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)
Knowledge Booster
Similar questions
Explain income and wealth more evenly distributed
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12. Fill in the blank
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Use 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 237
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