In 2021 which of the following was true?Murnie choThe lowest quintie of Canadian families received just over 7% of disposable incomeThe highest quintile of Canadian families received 60% of disposable national incomeThe second highest quintle of Canadian families received 40% of disposable income.The second, third and fourth quintiles of Canadian families received almost equal shares of disposable income.
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Step 1: Restate the question — determine which of the given statements about the 2021 distribution of disposable (after-tax) income across Canadian family quintiles is true. Show more…
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Table 20-4: Quintile Shares of Income by Quintile, 2000 Bottom Fifth: 4.3% Second Fifth: 9.8% Middle Fifth: 15.5% Fourth Fifth: 22.8% Top Fifth: 47.4% Source: U.S. Bureau of Census Shares of Income by Quintile, 2003 Bottom Fifth: 4.1% Second Fifth: 9.6% Middle Fifth: 15.5% Fourth Fifth: 23.2% Top Fifth: 47.6% Shares of Income by Quintile, 2007 Bottom Fifth: 3.4% Second Fifth: 8.8% Middle Fifth: 14.7% Fourth Fifth: 22.8% Top Fifth: 50.3% 7. Refer to Table 20-4. In 2007, the top fifth of families have: a. Almost 15 times as much income as the bottom fifth of families. b. 96.6% more income than the bottom fifth of families. c. 50.3% more income than the bottom fifth of families. d. 46.9% more income than the bottom fifth of families.
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