Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Table 21-4 Quintile Shares of Income by Quintile (Percent) 2000 2010 2019 Bottom Quintile 4.3 3.8 3.9 Second Quintile 9.8 9.4 9.2 Middle Quintile 15.4

Table 21-4 Quintile Shares of Income by Quintile (Percent) 2000 2010 2019 Bottom Quintile 4.3 3.8 3.9 Second Quintile 9.8 9.4 9.2 Middle Quintile 15.4 15.4 14.8 Fourth Quintile 22.7 23.5 22.5 Top Quintile 47.7 47.9 49.5 Source: U.S. Bureau of Census Refer to Table 21-4. Comparing data from 2000 and 2019, which of the following statements is correct? a. Overall income inequality has worsened slightly, as shown by the simultaneous increase in the share of income held by the top quintile and the decrease in the share of income held by the bottom quintile. b. There has been no change in overall income inequality because the share of income held by the fourth quintile is nearly identical. c. Overall income inequality has improved because the share held by the bottom quintile has declined by 0.5%. d. Overall income inequality has improved because the share held by the second quintile has declined by 0.6%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Leading and Collaborating in the Competitive World

Authors: Thomas S Bateman, Scott A Snell, Robert Konopaske

13th edition

1259927644, 1259927645, 978-1260194241

More Books

Students also viewed these Economics questions

Question

How practical and useful is database marketing for most businesses?

Answered: 1 week ago

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago