Econ 101 - Microeconomics » Fall 2019 » Income and Wealth Distribution Quiz

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Question #1
A quintile means:
A.   20% of households
B.   10% of households
C.   500% of households
D.   40% of households
Question #2
The top quintile in the US received about how much of total income
A.   90%
B.   20%
C.   50%
D.   70%
Question #3
A high Gini coefficient means that
A.   Income is unequally distributed
B.   Income is very equally distributed
C.   People in the country are mostly rich
D.   The country has a high GDP
Question #4
What is the correct order of their Gini coefficients for income distribution, from high to low, for these countries
A.   US, Sweden China
B.   US, China, Sweden
C.   Sweden, US, China
D.   China, US, Sweden
Question #5
For the US, income distribution had which trend in inequality
A.   Falling since 1930
B.   Rising since 1930
C.   Falling after 1930, then rising after 1980
D.   Falling after 1980, rising before 1980
Question #6
The top 1 in 1,000 households in the US have
A.   about 20% of all income
B.   about 0.1% of all income
C.   about 9% of all income
D.   about 1% of all income
Question #7
The top 1% in the US have what percent of wealth
A.   1%
B.   40%
C.   90%
D.   10%
Question #8
The middle class has most of its wealth in
A.   stocks
B.   residences (houses)
C.   bank accounts
D.   bonds
Question #9
For the US, the wealth Gini is
A.   about 0.8 and higher than the imcome Gini
B.   much higher than the income Gini
C.   about 0.8, much higher than the income Gini, and higher than most countries
D.   higher than most countries

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