can anyone help me with this chart
1. Distribution of Wealth in Colonial America 1700 1730 1760
Proportion of wealth held by the richest tenth… 45% 50% 54%
Median level of wealth (midpoint of all the wealth holders… L 50 L 55 L 60
Proportion of people with less than L 20 in property… 25% 30% 35%
L means pounds. The chart increases from 1700 to 1730 to 1760
Which of the following conclusions can be drawn from the table above?
a. An increasing concentration of wealth means that a few benefit at the expense of everyone else.
b. A rising proportion of men without property is bad for everyone.
c. Even when the rich have more property and the poor less, the rest of the people may increase their wealth.
d. An increase in the median level of wealth means that everybody is better off.
e. During the period 1700-1760, only the richest men increased their wealth.
I think the answer is A
what chart? All I see is a
1.
1. Distribution of Wealth in Colonial America 1700 1730 1760
Proportion of wealth held by the richest tenth… 45% 50% 54%
Median level of wealth (midpoint of all the wealth holders… L 50 L 55 L 60
Proportion of people with less than L20 in property… 25% 30% 35%
The L means pounds.
Which of the following conclusions can be drawn from the table above?
a. An increasing concentration of wealth means that a few benefit at the expense of everyone else.
b. A rising proportion of men without property is bad for everyone.
c. Even when the rich have more property and the poor less, the rest of the people may increase their wealth.
d. An increase in the median level of wealth means that everybody is better off.
e. During the period 1700-1760, only the richest men increased their wealth.
I think the answer is A
1. Distribution of Wealth in Colonial America 1700 1730 1760
Proportion of wealth held by the richest tenth… 45% 50% 54%
Median level of wealth (midpoint of all the wealth holders… L 50 L 55 L 60
Proportion of people with less than L20 in property… 25% 30% 35%
Which of the following conclusions can be drawn from the table above?
a. An increasing concentration of wealth means that a few benefit at the expense of everyone else.
b. A rising proportion of men without property is bad for everyone.
c. Even when the rich have more property and the poor less, the rest of the people may increase their wealth.
d. An increase in the median level of wealth means that everybody is better off.
e. During the period 1700-1760, only the richest men increased their wealth.
I think the answer is A
I agree.
could it be c also or no
C. might be true, but can't be determined from this data.
To determine the correct answer, let's analyze the information provided in the chart:
1. The proportion of wealth held by the richest tenth increases from 45% in 1700 to 50% in 1730 and further to 54% in 1760.
2. The median level of wealth also increases over time, from L 50 in 1700, L 55 in 1730, to L 60 in 1760.
3. The proportion of people with less than L 20 in property increases from 25% in 1700 to 30% in 1730 and further to 35% in 1760.
Now, let's evaluate the given options:
a. An increasing concentration of wealth means that a few benefit at the expense of everyone else.
This conclusion aligns with the information in the chart since the proportion of wealth held by the richest tenth increases over time, indicating a growing concentration of wealth.
b. A rising proportion of men without property is bad for everyone.
While the chart does show an increase in the proportion of people with less than L 20 in property, it does not provide information specifically about men without property and whether it is bad for everyone.
c. Even when the rich have more property and the poor less, the rest of the people may increase their wealth.
The chart does not directly provide information about whether the rest of the people are increasing their wealth; it only focuses on the proportion of wealth held by the richest tenth, the median level of wealth, and the proportion of people with less than L 20 in property.
d. An increase in the median level of wealth means that everybody is better off.
While the median level of wealth does increase over time, this does not necessarily mean that everybody is better off. The overall distribution of wealth and the proportion of people at different wealth levels are also important factors to consider.
e. During the period 1700-1760, only the richest men increased their wealth.
The chart does not provide information specifically about men and their wealth accumulation. It only provides general information about the distribution of wealth in Colonial America.
Based on the information in the chart and the evaluation of the options, the correct answer is indeed option A: An increasing concentration of wealth means that a few benefit at the expense of everyone else.