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Chapter 12: Problem 5

As shown in Exhibit 11,40 percent of families earned a cumulative share of about \(\quad\) percent of income. a. 5 b. 15 c. 30 d. 50

Short Answer

Expert verified
Based on the information provided in Exhibit 11, the cumulative share of income earned by 40% of families is approximately \(\boxed{c. \; 30 \; \%}\).

Step by step solution

01

Locate the Data for 40% of Families

Find the data point on Exhibit 11, where 40% of families are represented. This could be on a table or a graph, depending on the form of Exhibit 11.
02

Identify the Cumulative Share of Income

Once we find the data point for 40% of families, we can then determine the cumulative share of income associated with those families.
03

Match the Cumulative Share to the Given Options

After identifying the cumulative share of income for 40% of families, we can compare it to the available options (a. 5%, b. 15%, c. 30%, and d. 50%) to find the correct answer.
04

Select the Correct Answer

Once the cumulative share of income for 40% of families has been compared to the given options, select the option that matches the value found in Exhibit 11. That will be the solution to the exercise.

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Most popular questions from this chapter

To establish the poverty line that divides poor and nonpoor families, the government a. multiplies the cost of a minimal diet by three. b. multiplies the cost of a minimal diet by five. c. adds 50 percent to the cost of a minimal diet. d. adds 100 percent to the cost of a minimal diet.

Currently, the wealthiest 5 percent of all U.S. families earned what percentage of total annual money income among families? a. More than 20 percent b. Less than 10 percent c. More than 25 percent d. More than 50 percent

Comparing the family income distributions of the United States, the Czech Republic, and Brazil, the conclusion is that income is distributed a. most equally in Brazil. b. most equally in the United States. c. about the same in all three countries. d. most equally in the Czech Republic.

The negative income tax (NIT) is a plan under which families a. above a level of income pay no tax. b. pay the same tax rate except for the poor. c. below a level of income receive pay no tax. d. below a level of income receive a cash payment.

since \(1929,\) the overall family income distribution in the United States has become a. much more unequal. b. much less unequal. c. slightly more unequal. d. slightly more equal.
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