Answer
twelve times the income
Work Step by Step
48.9 percent of the income is received by the top fifth
3.8 percent of the income is received by the bottom fifth
$48.9/3.8 = 12.86$
Principles of Economics, 7th Edition
by Mankiw, N. Gregory
Published by
South-Western College
ISBN 10:
128516587X
ISBN 13:
978-1-28516-587-5
Chapter 20 - Part VI - Income Inequality and Poverty - Questions for Review - Page 430: 1
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