Since 1950, the average incomes of every income group increased-though the incomes of the wealthiest Americans (top 5 percent) increased more sharply than those of any others.This observation is also referred to as

Question

Quizplus · Accepted Answer

The observation described in the question refers to the income gap, which is the difference in income between the wealthiest and poorest Americans. While incomes have increased for all income groups since 1950, the top 5 percent have experienced a more significant increase in their income, leading to a wider income gap. The other options (gender gap, hyperinflation, baby boom effect, and inflation) do not accurately describe the observation.

Since 1950, the Average Incomes of Every Income Group Increased-Though