What share of all wealth is owned by the richest 20 percent of all U.S. families?A.49 percentB.99 percentC.89 percentD.29 percent
Question
What share of all wealth is owned by the richest 20 percent of all U.S. families?
- A. 49 percent
- B. 99 percent
- C. 89 percent
- D. 29 percent
Solution
To determine the share of all wealth owned by the richest 20 percent of U.S. families, we need to look at recent statistics on wealth distribution in the United States. Historically, data from sources like the Federal Reserve's Survey of Consumer Finances and various economic studies show that the richest 20 percent of families hold a significant portion of the total wealth.
- According to recent data, the top 20 percent of families own approximately 89 percent of the total wealth in the U.S.
- This reflects massive income inequality, where wealth is concentrated among a small percentage of the population.
Based on this information, the answer to the multiple-choice question is:
Final Answer
C. 89 percent
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