Question

In: Economics

In the mid-2010's, the net worth of the average white family was how much compared to...

  1. In the mid-2010's, the net worth of the average white family was how much compared to the average black family?

    Three times as much

    Eight times as much

    Half as much

    They are roughly the same.

Solutions

Expert Solution

The answer is (b) eight times as much

the net worth of an average white household in the mid 2010s was $950000 (approx)

the net worth of an average black household in the mid 2010s was $130000 (approx)

Thus, the net worth of an average white household was roughly 8 times the net worth of an average black household in the mid 2010s


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