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

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The observation stated in the question is also referred to as the income gap, which reflects the increasing disparities between the incomes of different income groups in the United States. The other choices listed (gender gap, hyperinflation, and baby boom effect) are not relevant to the observation described in the question.

Since 1950, the Average Incomes of Every Income Group Increased