Recent data from the World Bank for the distribution of income and average income in Sri Lanka and Mongolia are presented in Table: Distribution of Income and Average Income for Sri Lanka and Mongolia.
Based on the data in the table, which of the following statements is correct?
$$\begin{array}{l}
\text { Table: Distribution of Income and Average Income for Sri Lanka and Mongolia }\
\begin{array} { | l | l | l | }
\hline & \text { Sri Lanka } & \text { Mongolia } \
\hline \text { Average household income } & \$ 3,000 & \$ 3,000 \
\hline \begin{array} { l }
\text { Percent of total income } \
\text { earned by the top quintile of } \
\text { households }
\end{array} & 47.6 \% & 40.6 \% \
\hline \begin{array} { l }
\text { Percent of total income } \
\text { earned by the bottom quintile } \
\text { of households }
\end{array} & 7.0 \% & 8.0 \% \
\hline
\end{array}
\end{array}$$

Question

Recent data from the World Bank for the distribution of income and average income in Sri Lanka and Mongolia are presented in Table: Distribution of Income and Average Income for Sri Lanka and Mongolia.
Based on the data in the table, which of the following statements is correct?
$$\begin{array}{l}
\text { Table: Distribution of Income and Average Income for Sri Lanka and Mongolia }\
\begin{array} { | l | l | l | } 
\hline & \text { Sri Lanka } & \text { Mongolia } \
\hline \text { Average household income } & \$ 3,000 & \$ 3,000 \
\hline \begin{array} { l } 
\text { Percent of total income } \
\text { earned by the top quintile of } \
\text { households }
\end{array} & 47.6 \% & 40.6 \% \
\hline \begin{array} { l } 
\text { Percent of total income } \
\text { earned by the bottom quintile } \
\text { of households }
\end{array} & 7.0 \% & 8.0 \% \
\hline
\end{array}
\end{array}$$

Quizplus · Accepted Answer

The data shows that the bottom quintile of households in Sri Lanka earns 7.0% of the total income, while in Mongolia, the bottom quintile earns 8.0%. This indicates that the average income for the bottom quintile is lower in Sri Lanka than in Mongolia, as a higher percentage of total income for the bottom quintile in Mongolia suggests they have a relatively higher income compared to their counterparts in Sri Lanka.

Recent Data from the World Bank for the Distribution of Income