This graphic was created by David Leonhardt and is based on data from Piketty, Saez, and Zucman. For each income percentile, the graphic shows income growth for two time periods. Use this image to answer the next 4 questions. INCOME GROWTH The poor and middle class used to see the largest income growth. O about 6% O about 0% 1980 O about 2% O about 3% In 2014 INCOME PERCENTILE From 1940 to 1980 (the grey series) how much did income grow (each year) for the average American (those at the 50th income percentile)? But now, the very affluent (the 99.999th percentile) see the largest income growth.
This graphic was created by David Leonhardt and is based on data from Piketty, Saez, and Zucman. For each income percentile, the graphic shows income growth for two time periods. Use this image to answer the next 4 questions. INCOME GROWTH The poor and middle class used to see the largest income growth. O about 6% O about 0% 1980 O about 2% O about 3% In 2014 INCOME PERCENTILE From 1940 to 1980 (the grey series) how much did income grow (each year) for the average American (those at the 50th income percentile)? But now, the very affluent (the 99.999th percentile) see the largest income growth.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 4SCQ: Assume there are two countries: South Korea and the United States. South Korea grows at 4 and the...
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