Which of the following statements is true concerning income equality?
A)The share of income received by the top 5% remained declined between 1960 and 2000
B)The share of income received by the top 5% increased by about 20% between 1960 and 2000
C)The share of income received by the lower 20% of families increased significantly between 1960 and 2000
D)The United States has achieved true income inequality
E)None of the above

Question

Quizplus · Accepted Answer

The share of income received by the top 5% of earners in many countries, including the United States, has increased over the decades, reflecting growing income inequality. This trend is supported by various economic studies and data, indicating that the wealth gap has widened, with a significant portion of income gains accruing to the top earners.

Which of the Following Statements Is True Concerning Income Equality