Use the above table. What percentage of income is received by the poorest 20% of the population?
A. 20 percent
B. 7.0 percent
C. 11.1 percent
D. 13.3 percent
Answer: C
You might also like to view...
Use the following diagram to answer the next question.
In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (3) might represent
A. government salaries paid to school teachers. B. a state university's purchase of computers. C. property tax payments. D. social security payments to retirees.
An open market ________ by the Fed decreases interest rates and ________ investment
A) sale; decreases B) purchase; decreases C) purchase; increases D) sale; increases
The wealth effect, the interest rate effect, and the international trade effect account for the:
a. positive slope of the short-run aggregate supply curve. b. the shape of the long-run aggregate supply curve. c. positive slope of the aggregate demand curve. d. negative slope of the aggregate demand curve. e. negative slope of the short-run aggregate supply curve.
The text shows that income elasticity for books is 1.44 . This means that
a. books are income inelastic b. books are price inelastic c. there's a 144 percent increase in book sales when income rises 10 percent d. there's a 44 percent increase in book sales when income rises 10 percent e. there's a 1.44 percent increase in book sales when income rises 1 percent