According to recent Federal Reserve surveys, what percentage of Americans reported that they could not pay a surprise \$400 bill with cash or its equivalent?
A
About 15%
B
About 60%
C
About 25%
D
About 39%
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1
Understand that this problem is asking for a specific statistic from a Federal Reserve survey regarding Americans' ability to pay a surprise \$400 bill with cash or its equivalent.
Recognize that this is a factual question based on survey data, not a calculation or microeconomic model problem.
Recall or research the Federal Reserve's findings on financial resilience, which indicate the percentage of Americans who cannot cover an unexpected \$400 expense.
Note that the correct answer is approximately 39%, which reflects the proportion of people lacking sufficient liquid assets to cover such a bill.
Understand the economic implication: this statistic highlights issues of financial vulnerability and liquidity constraints among a significant portion of the population.