Refer to the Income Distribution Data in the Table

question 154

Multiple Choice

Refer to the income distribution data in the table. Which of the following statements is correct?

• A)The distribution of income was the same in 2015 as in 1980.
• B)In 2015, the top 20 percent of households earned just over half of the nation's total income.
• C)In 1980, the poorest 60 percent of the population earned 16.9 percent of the nation's total income.
• D)The income levels of the lower 60 percent of households have fallen from 1980 to 2015.

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Definitions:

Limited and Bundled Choices

This term refers to a marketing and sales strategy where consumers are offered packages or bundles of goods or services with few alternatives, limiting their choices to predetermined sets.

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An abstract idea or a general notion that exists in the mind as part of the thinking process.

Paradox of Voting

A situation in economic theory where the cost of voting (time, effort) outweighs the apparent benefits, leading to the question of why people vote.

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