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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 CA Second Middle Fourth State quintile quintile quintile quintile Lowest- income Highest- income quintile $14,300 $39,000 $67,700 $109,100 $250,400 FL $11,900 $30,900 $51,100 $80,600 $190,500 MN NY $12,200 $35,100 $63,300 $103,500 $253,100 TX $15,900 $40,300 $66,100 $100,100 $211,600 $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. %

Inequality, Social Insurance, and Redistribution - Work It Out The accompanying table contains data on the income distribution of five states. Average Annual Family Income CA Second Middle Fourth State quintile quintile quintile quintile Lowest- income Highest- income quintile $14,300 $39,000 $67,700 $109,100 $250,400 FL $11,900 $30,900 $51,100 $80,600 $190,500 MN NY $12,200 $35,100 $63,300 $103,500 $253,100 TX $15,900 $40,300 $66,100 $100,100 $211,600 $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. %

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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 Lowest- income Second Middle Fourth State quintile quintile quintile quintile CA FL NY MN TX $14,300 $39,000 $67,700 $109,100 Highest- income quintile $250,400 $11,900 $30,900 $51,100 $80,600 $190,500 $12,200 $35,100 $63,300 $103,500 $253,100 $15,900 $40,300 $66,100 $100,100 $211,600 $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. %
Transcribed Image Text: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 Second Middle Fourth State quintile quintile quintile quintile CA FL NY MN TX $14,300 $39,000 $67,700 $109,100 Highest- income quintile $250,400 $11,900 $30,900 $51,100 $80,600 $190,500 $12,200 $35,100 $63,300 $103,500 $253,100 $15,900 $40,300 $66,100 $100,100 $211,600 $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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