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%

Answer: (D)

Verified step by step guidance

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.
2. Recognize that this is a factual question based on survey data, not a calculation or microeconomic model problem.
3. Recall or research the Federal Reserve's findings on financial resilience, which indicate the percentage of Americans who cannot cover an unexpected \$400 expense.
4. Note that the correct answer is approximately 39%, which reflects the proportion of people lacking sufficient liquid assets to cover such a bill.
5. Understand the economic implication: this statistic highlights issues of financial vulnerability and liquidity constraints among a significant portion of the population.