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Income
Levels & Social Class: is it all about cash?
By Michele Soussou
Activity
Sheet
- Graph
the mean income for each 1/5 of the population in 1997 and
1967.
Which type of graph did you choose bar, line or pie? Why?
- Did
each group receive the same increase in income between 1967
and 1997?
Find the $ increase for each 1/5 of the population from
1967 to 1997.
Find the % increase for each 1/5 of the population from
1967 to 1997.
- Did
the gap between the average income for the lowest fifth
and the highest fifth stay constant between 1967 and 1997?
What is the difference?
What % times the average income of the lowest fifth equals
the income of the highest fifth? What do you think some
of the reasons for the change are?
What do you think the trend will be in the next thirty years?
Why?
- What
share (%) of the aggregate income received in 1997 was received
by each fifth of the families?
In 1967?
What changes do you notice?
- Instead
of equal groupings of population, look at the number (or
percent) of people in each income bracket (1/5 grouping)
so that each 1/5 now contains 1/5 of the aggregate income.
- Why
are all of these numbers reported in 1997 dollars? What
do you think the difference with earning $30,000 in 1997
and 1967 is?
Is $30,000 always worth the same amount?
Does a car cost the same today as 10 years ago? A house?
A gallon of milk?
Are prices the same across the country?
Go to a web site for a CPI calculator. Let the students
play with it and then have them explain how the calculator
works, what calculations it is performing. http://www.newsengin.com/neFreeTools.nsf/CPIcalc?OpenView
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