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Inequality, Social Insurance, and Redistribution - Work It Out The accompanying table contains data on the income distribution of five states. Average Annual Family Income
Inequality, Social Insurance, and Redistribution - Work It Out The accompanying table contains data on the income distribution of five states. Average Annual Family Income Lowest- income quintile Second quintile Middle quintile Fourth quintile Highest- income quintile State CA $14,300 $39,000 $67,700 $109,100 $250,400 FL $11,900 $30,900 $51,100 $80,600 $190,500 NY $12,200 $35,100 $63,300 $103,500 $253,100 MN $15,900 $40,300 $66.100 $100,100 $211,600 TX $12,900 $34,100 $57,600 $91,700 $208,100 a. In Minnesota, what percentage all income does the highest-income quintile earn? % b. Using what you learned in the text, if current trends continue, how do you expect the share of income going to the highest-income quintile to change in the next 20 years? The share of income to the highest-earning quintile will likely not change. The share of income to the highest-earning quintile will increase. The share of income to the highest-earning quintile will decrease
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