Based on Data from 2017, the Top Quintile of All

question 184

Multiple Choice

Based on data from 2017, the top quintile of all families received approximately what percent of all income in the United States?

• A)4 percent
• B)49 percent
• C)41 percent
• D)23 percent

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Definitions:

Net Loss

The amount by which total expenses exceed total revenues for a business or individual, indicating a negative financial performance.

Deadweight Loss

Deadweight Loss is the loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Infant Industry

The infant industry argument supports protecting emerging domestic industries from international competition until they become competitive internationally.

Technological Efficiency

A state of production where a business cannot produce more of one good without lowering the production level of another good, given current technology.