In 2017, about what percentage of total income was earned by the poorest fifth of all U.S. households?
A. 12 percent
B. 6 percent
C. 3 percent
D. 1 percent
Answer: C
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Until 1950, the Social Security program spent ______ of its assets every year
a. less than 10 percent b. between 10 and 20 percent c. between 20 and 30 percent d. over 30 percent
Risk diversification refers to the process by which:
A. people organize themselves in a group to collectively absorb the cost of the risk faced by each individual. B. insurance companies change the risk aversion of their clients. C. risks are shared across many different assets or people, reducing the impact of any particular risk on any one individual. D. insurance companies reallocate the likelihood of catastrophes happening.
The efficient markets hypothesis implies
a. that all stocks are fairly valued all the time and that no stock is a better buy than any other. b. that all stocks are fairly valued all the time, but that some stocks may be better buys than other. c. that some stocks may be better buys than others and stock experts can determine which ones. d. that no stock is efficiently valued.
Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?
a. 1.425 million b. 1.5 million c. 2.5 million d. 5 million