Census: Income Fell Sharply Last Year the median household income fell 3.6%. The

Question

Census: Income Fell Sharply Last Year the median household income fell 3.6%. The share of people living in poverty rose to 13.2% in 2008 from 12.5% in The u s. Census Bureau reported that in 2008 2007. Only households led by people aged 65 or older enjoyed income gain-a 1.2% increase. Source: USA Today, September 11, 2009 The change in the median income and the change in the poverty rate tell us OA. nothing about the US, Lorenz curve O B. the Lorene curve in 2008 is closer to the line of equality than the LorenzB the mode income O c. the Loreng curve in 2007 a closer to the line of oquality than the Lorenz OD. the change O D. the Lorenz curve in 2008 is the same as the Lorenz curve in 2007 To know how the changes described changed the U.S. Lorenz curve we would need to know O A the mean income | C, the median income curve in 2007 in income received by the households in the bottom quintile curve in 2008 and in the top quintile

Explanation / Answer

1. C since 2007 has a higher medain income and a lower poverty level.

2. The change in income recieved by the hhs in the bottom quintile and in the top quintile

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