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rewona [7]
3 years ago
6

Paddy has lots of cousins. With a family reunion in the near future, Paddy decides to collect income information for himself and

all his cousins. He obtains the following data points: $52,000, $22,000, $92,000, $8,000, $118,000, $62,000, $38,000, $14,000, $132,000, $46,000, $26,000, $96,000, $54,000, $110,000, $80,000. The share of income received by the highest quintile of this income distribution is ______, which is _____ than that for the highest quintile of the U.S. income distribution in 2005.
Business
1 answer:
Trava [24]3 years ago
8 0

Answer:

37.9%, lower

Explanation:

Paddy has lots of cousins. With a family reunion in the near future, Paddy decides to collect income information for himself and all his cousins. He obtains the following data points: $52,000, $22,000, $92,000, $8,000, $118,000, $62,000, $38,000, $14,000, $132,000, $46,000, $26,000, $96,000, $54,000, $110,000, $80,000. The share of income received by the highest quintile of this income distribution is <u>37.9%</u>, which is <u>lower</u> than that for the highest quintile of the U.S. income distribution in 2005.

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g Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account.
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Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account.

Barter is best defined as a situation where two individuals each want some or service that the other can provide.

A double coincidence of wants is a situation where two individuals each want some or service that the other can provide.

<h3>What is money?</h3>

Money is anything that is  accepted by the general public as a means of payment for products and for repayment of debt.

<h3>What are the functions of money?</h3>
  • Medium of exchange : money can exchanged for goods and services.
  • Unit of account : money can be used to determine the value of goods and services
  • Store of value : money can retain its value over the long term.

<h3>What is barter?</h3>

Barter is when people exchange goods with goods. For barter to occur, there has to be a double coincidence of wants. This means that someone has to have what you want and that person wants what you have.

To learn more about money, please check: brainly.com/question/940436

7 0
2 years ago
At December 31, Tremble Music had account balances in Accounts Receivable of $300,000 and in Allowance for Uncollectible Account
anzhelika [568]

Answer:

The balance of uncollectible accounts after the adjustment will be $15,000

Explanation:

On December 31, the balance of the accounts receivable is $300,000 and on same data it is suggested that the 5% of the account receivable will be not be collected.

So, the balance of the uncollectible accounts will be computed as:

Uncollectible accounts = Account receivable balance × % which will not collected

where

Account receivable balance is $300,000

% which will not be collected is 5%

Putting the values above:

= $300,000 × 5%

= $15,000

NOTE: The allowance for uncollectible accounts of $1,000, already credited, so will not be considered again.

8 0
3 years ago
When it comes to saving money, what is a good rule of thumb
Mamont248 [21]
Buy what u need when u need it not what u want when u want my dad always said

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3 years ago
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What is a database query?
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Answer:

is as request to access data from as database to manipulate it or retrieve it

4 0
3 years ago
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Guiness Inc. has a budgeted production of 8,000 units. Each unit requires 40 minutes of direct labor work to complete. The direc
Alex Ar [27]

<u>Solution and Explanation:</u>

The budgeted cost of the direct labor for the month is calcuated as follows:

the given data:

Budgeted production is = 8000 units, time required of direct labor work in order to complete the production is = 40 minutes, the direct labor rate as given in the question is = $100 per hour.

Budgeted cost = time multply with rate of labor multiply with budgeted production

(40/60 multiply with 100) multiply with 8000 = 533,333.33

therefore, the budgeted cost = $533333.33 ( rounded of to 2 places).

6 0
3 years ago
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