Question

A group of 10 people have the following annual incomes:_______.
$24,000, $18,000, $50,000, $100,000, $12,000, $36,000, $80,000, $10,000, $24,000, $16,000.
Calculate the share of total income that each quintile receives from this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution?
To reduce income inequality, should the marginal tax rates on the top 1% be increased?

Answer 1

Answer:

The answer to this question can be defined as follows:

Explanation:

The very first useful step is to specify homeowners as decreased to increases in revenues. Its bottom quintile will be the lower two homeowners, its second quintile it's third and fourth, and so on to its top quintile, like a total number of homeowners exists.

• In the quintiles as well as the percentage of the total revenue and for information compiled. Throughout contrast of 2005, its peak quintile is the US earnings allocation.  

• Its example would be lower than for the allocation in the U.S. as well as the bottom quintile will have a greater proportion of total income. Throughout this model, its distribution of income from this example is generally higher than the US allocation.