Identify the correct statement about the distribution of income in the United States in the last two decades.
A)The share of income of the highest fifth quintile has increased in the last two decades because of an increase in the number of double-income households.
B)The share of income of the lowest fifth quintile has increased in the last two decades because of an increase in the number of double-income households.
C)The share of income of the highest fifth quintile has decreased in the last two decades because of an increase in the number of single-parent households.
D)The share of income of the lowest fifth quintile has decreased in the last two decades because of a decrease in in-kind transfers.
E)The share of income of the highest fifth quintile has increased in the last two decades because of an increase in transfer payments.

Question

Quizplus · Accepted Answer

The share of income of the highest fifth quintile has increased in the last two decades because of an increase in the number of double-income households. This is supported by data from the U.S. Census Bureau, which shows that the number of dual-earner households has increased over the past two decades, leading to an increase in household income for those in the top quintile.

Identify the Correct Statement About the Distribution of Income in the United