Distribution of Income in Percentage of the United States Households 1985 2020 3.0 8.1 14.0 22.6 52.2 Lowest 20% Second 20% Third 20% Fourth 20% Highest 20% Which statement best describes the data in the table? Multiple Choice 4.0 9.7 16.3 24.0 46.6 O Between 1985 and 2020, the lowest and the highest quintiles gained larger shares of total income at the expense of the three middle quintiles. Between 1985 and 2020, each quintile gained a larger share of total income because the level of total income increased greatly. Between 1985 and 2020, the highest 20 percent of households gained a larger share of total income at the expense of the lowest 80 percent. Between 1985 and 2020, the lowest 40 percent of households gained a larger share of total income at the expense of the highest 40 percent.

Distribution of Income in Percentage of the United States Households 1985 2020 3.0 8.1 14.0 22.6 52.2 Lowest 20% Second 20% Third 20% Fourth 20% Highest 20% Which statement best describes the data in the table? Multiple Choice 4.0 9.7 16.3 24.0 46.6 O Between 1985 and 2020, the lowest and the highest quintiles gained larger shares of total income at the expense of the three middle quintiles. Between 1985 and 2020, each quintile gained a larger share of total income because the level of total income increased greatly. Between 1985 and 2020, the highest 20 percent of households gained a larger share of total income at the expense of the lowest 80 percent. Between 1985 and 2020, the lowest 40 percent of households gained a larger share of total income at the expense of the highest 40 percent.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 6SCQ: A group 0f 10 people have the following annual incomes:...

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