Which of the Following Statements About Income Distribution in the United

question 228

Multiple Choice

Which of the following statements about income distribution in the United States in 2008 is NOT TRUE?

• A) Higher-income groups received a very small share of total income.
• B) The median income of families was about $61,521.
• C) The top 20 percent income group received almost 48 percent of the total income.
• D) Well-to-do families with incomes over $200,000 got over 20 percent of the total income.
• E) Almost 16 million families had less than $27,800 income.

---

Definitions:

Forged Checks

Checks that have been illegally altered or signed without the account holder's authorization.

FDIC

The Federal Deposit Insurance Corporation, a United States government agency that insures deposits at banks and thrifts up to the legal limit.

Insurance Coverage

A contract in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.

Electronic Fund Transfer Act

A law that protects consumers when they transfer funds electronically, including ATM transfers, direct deposits, and debit card transactions.