Table 20-3 The Distribution of Income in Hapland

question 270

Multiple Choice

Table 20-3
The Distribution of Income in Hapland

-Refer to Table 20-3.According to the table,what percent of families in Hapland have income levels above $60,000?

• A) 80 percent
• B) 60 percent
• C) 50 percent
• D) 40 percent

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Definitions:

Loans Receivable

Loans receivable are amounts owed to a lender by borrowers, recognized as assets on the lender's balance sheet.

Repayment

The act of paying back money previously borrowed from a lender.

Net Income

The amount of money that remains after all operating expenses, taxes, and interest have been deducted from total revenue; also referred to as net profit.