Asked by Leanna Lolita on Jul 12, 2024
Verified
The percentage of total before-tax household income received by the lowest 20 percent of households in 2017 was about ____ percent, while the top 20 percent received about ___ percent.
A) 1; 30
B) 3; 50
C) 8; 60
D) 12; 40
Before-Tax Household Income
The total income earned by all members of a household before any taxes are deducted.
Percent
A way to express a number as a fraction of 100, denoting proportions or ratios.
- Acquire knowledge about the implications of economic policy on income disparity and the incidence of poverty.
Verified Answer
HS
Harry SinghJul 17, 2024
Final Answer :
B
Explanation :
The lowest 20 percent of households typically receive a small fraction of the total income, around 3 percent, while the top 20 percent receive a significantly larger share, close to 50 percent. This reflects the income inequality present in many economies.
Learning Objectives
- Acquire knowledge about the implications of economic policy on income disparity and the incidence of poverty.