#HOLDING SACERD PELL - Wz ESTHE dogth Canpark skpaty Cl VELLLL 102 S har 107 AUT The figure shows the trajectory of U.S. household income from 1967 to 2018. The data is broken down by quintile and also shows the trajectory of incomes for the top 5% of households. Select the FALSE statement. In 2018, the top 5% of U.S. households were making more than $400,000 a year Incomes for every quintile of the U.S. income distribution have been growing since 1967 In absolute terms, the first quintile of the income distribution has experienced the largest gains in income since 1967 relative to all other quintiles. In 1967, each group represented in this graph (including the top 5% of households) earned less than $100,000 per year

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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38 349 350
SACERD
Jakpa CM
Pills ark ps
Vez
ESTITE
VELELE
102
The figure shows the
trajectory of U.S. household
income from 1967 to 2018.
The data is broken down by
quintile and also shows the
trajectory of incomes for the
top 5% of households.
Select the FALSE statement.
In 2018, the top 5% of U.S. households were making more
than $400,000 a year
Incomes for every quintile of the U.S. income distribution
have been growing since 1967
In absolute terms, the first quintile of the income
distribution has experienced the largest gains in income
since 1967 relative to all other quintiles.
In 1967, each group represented in this graph (including the
top 5% of households) earned less than $100,000 per year
Transcribed Image Text:38 349 350 SACERD Jakpa CM Pills ark ps Vez ESTITE VELELE 102 The figure shows the trajectory of U.S. household income from 1967 to 2018. The data is broken down by quintile and also shows the trajectory of incomes for the top 5% of households. Select the FALSE statement. In 2018, the top 5% of U.S. households were making more than $400,000 a year Incomes for every quintile of the U.S. income distribution have been growing since 1967 In absolute terms, the first quintile of the income distribution has experienced the largest gains in income since 1967 relative to all other quintiles. In 1967, each group represented in this graph (including the top 5% of households) earned less than $100,000 per year
HOUSEHOLD INCOME
$500,000
1st quintile
2nd quintile
$400,000 3rd quintile
$300,000
$200,000
$100,000
0
1967
1977
4th quintile
5th quintile
Top 5%
1987
1997
YEAR
2007
2017
Transcribed Image Text:HOUSEHOLD INCOME $500,000 1st quintile 2nd quintile $400,000 3rd quintile $300,000 $200,000 $100,000 0 1967 1977 4th quintile 5th quintile Top 5% 1987 1997 YEAR 2007 2017
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