The accompanying table contains data on the income distribution of five states. Pick one and sketch out its income distribution similar to Figure 1. What percentage of all income does the highest-income quintile earn? Using what you learned in the text, if current trends continue, how do you expect the share of income going to the highest-income quintile to change in the next 20 years?

Figure 1

Transcribed Image Text:

Median annual earnings in 2017 $120,000 $80,000 $40,000 $0 $25,200 High school inodoup $32,300 High school graduate $40,300 Associate's degree $53,900 Bachelor's degree $70,400 Stevenson/Wolfers, Principles of Economics, le, © 2020 Worth Publishers Master's degree $100,300 Professional degree