Final answer:
According to data from various sources, including the Federal Reserve and the World Inequality Database, the wealthiest 20 percent of people in the United States own approximately 89 percent of the country's privately owned wealth.
The answer is option ⇒c. 89 percent
Step-by-step explanation:
This means that a small portion of the population holds a significant majority of the nation's wealth.
1. Wealth distribution: The data shows that a significant portion of the nation's wealth is concentrated among the wealthiest 20 percent of the population. This means that a small fraction of individuals possess a large proportion of the country's privately owned wealth.
2. Data sources: The figures mentioned are derived from sources like the Federal Reserve and the World Inequality Database. These organizations collect and analyze economic data to provide insights into wealth distribution and income inequality.
3. Variations in data: It is important to note that specific figures may vary slightly depending on the data source and the time period being considered. Different methodologies or data collection techniques may lead to slightly different results. However, the overall trend of wealth concentration among a smaller segment of the population remains consistent.
4. Implications of wealth inequality: Wealth inequality can have significant social and economic consequences. It may lead to disparities in opportunities, access to resources, and power within society. Addressing wealth inequality is an ongoing concern for policymakers and economists, as it can impact social mobility and economic stability.
The answer is option ⇒c. 89 percent