Table 20-1 The Following Table Shows the Distribution of Income in Marysville

question 7

Multiple Choice

Table 20-1
The following table shows the distribution of income in Marysville.
-Refer to Table 20-1. Fifty percent of all families have incomes below what level?

• A)$30,000
• B)$60,000
• C)$90,000
• D)There is insufficient information to answer this question.

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Definitions:

Endowment Effect

A mental occurrence in which individuals attribute increased worth to objects simply because they possess them.

Losses

Negative financial results stemming from expenses exceeding revenues or from decreases in asset values.

Gains

The benefits or profits gained from a particular activity or financial transaction.

Status-Quo Bias

Status-quo bias is the preference to keep things the same or maintain a current or previous decision.