Represent data mentioned above in terms of a graph or pie chart.
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Solution and Explanation
Step 1: Visualizing the Data.
A pie chart or graph could be used to represent the data on income distribution. The distribution could show the percentage of income earned by different segments of the population, with 0.001% of tax-paying Americans receiving the majority of the wealth, followed by the bottom 90%, which has a small share of the income. The top 0.01% and 0.1% of income earners would show a much larger share than the average American.
Step 2: Designing the Chart.
The chart should highlight the drastic difference between the income distribution of the bottom 90% and the top 0.01%. The chart can have labels and proportions that indicate the relative growth of income for different groups.
Step 3: Conclusion.
This chart would visually represent the income disparities discussed in the passage, highlighting the significant concentration of income at the top. 
Top MICAT General Awareness Questions
The Table given below presents the data on the Japanese Direct Foreign Investment by Industry. Based on the data, select the correct answers from the options given under each question. Enter the alphabet against the question number in the answer booklet.
TOTAL INVESTMENT FROM 1951-1988
- The pattern of Japanese investments is concentrated in the:
- The area where maximum Japanese FDI’s are located is in:
- The percentage constitution of the tertiary sector segment is:
Items listed in Part ‘A’ are the popular slogans that appear in media frequently in relation to various products and companies, names of dances, festivals and other well-known things associated with places. The Part ‘B’ provides you the choices of right answers.
Please choose the correct answers from part ‘B’ and enter the alphabet against the question number in the answer booklet.
Top MICAT Economics and economic theories Questions
- Let's talk first about the facts on income distribution. Thirty years ago we were a relatively middleclass nation. It had not always been thus: Gilded Age America was a highly unequal society, and it stayed that way through the 1920s During the 1930s and '40s, however, America experienced what the economic historians Claudia Goldin and Robert Margo have dubbed the Great Compression: a drastic narrowing of income gaps, probably as a result of New Deal policies. And the new economic order persisted for more than a generation: Strong unions; taxes on inherited wealth, corporate profits and high incomes; close public scrutiny of corporate management--all helped to keep income gaps relatively small. The economy was hardly egalitarian, but a generation ago the gross inequalities of the 1920s seemed very distant. Now they're back. According to estimates by the economists Thomas Piketty and Emmanuel Saez-confirmed by data from the Congressional Budget Office--between 1973 and 2000 the average real income of the bottom 90 percent of American taxpayers actually fell by 7 percent. Meanwhile, the income of the top one- percent rose by 148 percent, the income of the top 0.1 percent rose by 343 percent and the income of the top 0.01 percent rose 599 percent. (Those numbers exclude capital gains.) The distribution of income in the United States has gone right back to Gilded Age levels of inequality.
- Figures about the American Economy show that:
- Between 1973 and 2000:
- All the data quoted are from:
- 0.001% of the tax paying population have seen their income levels:
Top MICAT Questions
- Explain the key message of the following paragraph in two lines.
For us it is above all a question of changing purpose and function of music. Not by using more and more intoxicating devices, but by using devices in a more reasonable way. What we have to do is clarify the emotions of our listeners and not confuse them. The worst thing I can think of is music that causes emotional confusion. Even that archaic, intoxicating ‘musical’ element, which all music contains, must be utilized consciously and not spontaneously.
— Hanns Eisler
- Explain the key message of the following paragraph in two lines.
The poet didn’t scare off when they said he was a rebel. Poetry is rebellion. The poet was not offended when he was called subversive. Life transcends all structures, and there are new rules of conduct for the soul. The seed sprouts anywhere, all ideas are exotic, we wait for enormous changes every day, we live through the mutation of human order avidly and spring is rebellious.
— Pablo Neruda
The Table given below presents the data on the Japanese Direct Foreign Investment by Industry. Based on the data, select the correct answers from the options given under each question. Enter the alphabet against the question number in the answer booklet.
TOTAL INVESTMENT FROM 1951-1988- The pattern of Japanese investments is concentrated in the:
- The area where maximum Japanese FDI’s are located is in: