Table 20-8 Source: U.S. Bureau of Census

question 422

Multiple Choice

Table 20-8 Source: U.S. Bureau of Census
-Refer to Table 20-8. Comparing data from 2000 and 2011, which of the following statements is correct?

• A)The bottom 40% of the population had a greater share of the income in 2011 than it did in 2001.
• B)The top 40% of the population had a greater share of the income in 2011 than it did in 2001.
• C)The middle 60% of the population had a greater share of the income in 2011 than it did in 2001.
• D)All of the above are correct.

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Definitions:

Unemployment

The condition in which a capable worker who is actively seeking employment is unable to find work.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in bank accounts.

Phillips Curve

An economic theory that suggests an inverse relationship between the level of unemployment and the rate of inflation.

Money Supply

The full amount of economic monetary assets at a specific point in time.