Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Question
Chapter 33, Problem 17E
To determine
To explain:
The two possible causes of the changes that can be the reason for an unequal income distribution in the United States.
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- A group of 10 people have the following annual incomes: 55,000,30,000,15,000,20,000,35,000,80,000,40,000,45,000,30,000,50,000. 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?arrow_forwardIs it possible for everyone's real income to rise even though the income distribution in a society has become more an equal? Give an example to support your answer.arrow_forward
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