Table 20-1
the Following Table Shows the Distribution of Income

question 158

Multiple Choice

Table 20-1
The following table shows the distribution of income in Choochooville.
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$$\begin{array} { | c | c | } \hline \text { Group } & \text { Annual Family Income } \\\hline \text { Bottom Quartile } ( 25 \% ) & \$ 23,000 \text { and below } \\\hline \text { Third Quartile } & \$ 23,000 \text { to } \$ 52,999 \\\hline \text { Second Quartile } & \$ 53,000 \text { to } \$ 82,999 \\\hline \text { Top Quartile } & \$ 83,000 \text { and above } \\\hline\end{array}$$ ​
-Refer to Table 20-1. If the poverty line were $37,448, what would be the poverty rate?

• A)Between 25% and 50%
• B)Between 50% and 75%
• C)Less than 25%
• D)There is insufficient information to answer this question.

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Definitions:

Double Coincidence

A situation in a barter system where two parties each hold an item the other wants, facilitating an exchange without the need for money.

Barter

The exchange of one good or service for another good or service; a trade.

M2

A measure of the money supply that includes all elements of M1 (cash and checking deposits) plus savings deposits, money market mutual funds, and other time deposits.

M1

A segment of the money supply encompassing all tangible currency, such as bills and coins, in addition to demand deposits, checking accounts, and negotiable order of withdrawal (NOW) accounts.