The following table provides information on the distribution of money income among families in the U.S. a.
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a. Explain the concept of a quintile in the distribution of income.
b. Suppose that we define to poor as those in the bottom two quintiles of the income distribution. Explain what happened to the share of money income earned by the poor from 1989 to 2009.
c. Suppose that we define the middle class very broadly as those in the second, third, and fourth quintiles of the income distribution. Explain what happened to the share of money income earned by middle class from 1989 to 2009.
d. Explain two significant factors that a table of information such as this ignores. Answer:
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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a A quintile includes 20 percent of the population For example the lowest qui...View the full answer
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