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Consider an economy in which there is 10 households with income tabulated as follows H1. $10,000 H2. $20,000 H3. $25,000 H4. $30,000 H5. $50,000 H6....

Consider an economy in which there is 10 households with income tabulated as follows
H1. $10,000
H2. $20,000
H3. $25,000
H4. $30,000
H5. $50,000
H6. $50,000
H7. $60,000
H8. $75,000
H9. $90,000
H10. $100,000
a. What is the mean income? Median? Top decile? Bottom decile?
b. What’s the general pattern of the US income distribution over the last century? How about the timing of the changes?

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Consider an economy in which there is 10 households with income tabulated as follows
H1. $10,000 H2. $20,000
H3. $25,000
H4. $30,000
H5. $50,000
H6. $50,000 H7. $60,000 H8. $75,000 H9. $90,000
H10....

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