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Based on this table showing the Distribution of Household Income for 2018, answer the three questions below 2018 Quintile Income Range Share of Total U.S.
Based on this table showing the Distribution of Household Income for 2018, answer the three questions below
2018 | ||
Quintile | Income Range | Share of Total U.S. Income |
Lowest | $0 - $25,600 | 3.1% |
Second | $25,601 - $50,000 | 8.3% |
Third | $50,001 - $79,542 | 14.1% |
Fourth | $79,543 - $130,000 | 22.6% |
Highest Fifth | Above $130,000 | 52.0% |
Richest 5% (not a quintile) | Above $248,728 | 23.1% |
1)What is meant by an income quintile?
2) What share of households had incomes of $50,000 or less in 2018 and explain?
3) What was the share of income received by the lowest three quintiles combined?
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