Table 20-4 Source: U.S. Bureau of Census

question 39

Multiple Choice

Table 20-4 Source: U.S. Bureau of Census
-Refer to Table 20-4. Comparing data from 2000 and 2011, which of the following statements is correct?

• A)There has been no change in overall income inequality because the share of income held by the fourth fifth is nearly identical.
• B)Overall income inequality has worsened slightly, as shown by the simultaneous increase in the share of income held by the top fifth and the decrease in the share of income held by the bottom fifth.
• C)Overall income inequality has improved because the share held by the second fifth has declined by 0.5%.
• D)None of the above is correct.

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Definitions:

Landlords Leaving

The phenomenon where property owners exit the rental market, which can be due to various factors including regulatory changes or shifts in market conditions.

Binding Price Ceiling

A maximum price set by the government below the equilibrium price, causing shortages.

Lower Quality

Refers to products or services that do not meet the expected standards or performance criteria compared to others in the market.

Price Ceilings

Legally imposed maximum prices on goods or services that aim to keep them affordable for consumers, which can lead to shortages if set below the market equilibrium.