Question

All the data quoted are from:

• A. US government data.
• B. Data provided by Thomas Piketty and Emmanuel Saez.
• C. Studies done by Claudia Goldin and Robert Margo.
• D. None of the above.

Hint:

Always verify the source of the data mentioned in the passage, especially when it references specific economists or researchers.

Answer 1

The Correct Option is B

Step 1: Understanding the passage.
The passage references estimates by economists Thomas Piketty and Emmanuel Saez, who provided the data that compares income distributions from 1973 to 2000.
Step 2: Analyzing the options.
- (a) US government data: This is incorrect. The passage specifically mentions data from economists Piketty and Saez, not from the government.
- (b) Data provided by Thomas Piketty and Emmanuel Saez: This is correct as the data referenced in the passage was provided by these economists.
- (c) Studies done by Claudia Goldin and Robert Margo: This is incorrect. The passage does mention these historians but in a different context.
- (d) None of the above: This is incorrect because option (b) is correct.
Step 3: Conclusion.
The correct answer is (b) as the passage clearly cites Thomas Piketty and Emmanuel Saez as the source of the quoted data.