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Chapter 18: Problem 25

The richest fifth of all American families receives __________ percent of our total income. (LO1) a) almost 35 c) more than 60 b) about 50 d) more than 75

Short Answer

Expert verified
c) more than 60

Step by step solution

01

Understanding the Question

Ensure to understand the terms used in the question. The 'Richest fifth' refers to the top 20% income bracket in the U.S., and the 'percent of our total income' refers to the percent of the entire income of the U.S. that this 20% controls.
02

Deduction from context

This question seems to be about income disparity in the United States. Historically, and particularly in recent years, there has been a trend of increasing income inequality, where the 'richest fifth' is controlling an increasing share of the nation's income.
03

Concluding the Answer

With these points in mind, the answer to the question, although not definitive, tends to lean towards option 'c) more than 60' or 'd) more than 75'. This would indicate a high level of income disparity, with the wealthiest households controlling a large portion of the nation's income. Remember that this deduction is made based on known socio-economic trends and can not be definitively confirmed without historical or contextual data.

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Most popular questions from this chapter

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Which of the following people would stand the least chance of being poor during her or his lifetime? (LO11) a) someone with less than 12 years of education b) someone with more than 12 years of education c) someone white d) someone black
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