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Chapter 15: Q. 22 (page 378)

Who is included in the top income quintile?

Short Answer

Expert verified

The top income quintile is the fifth quintile (the last quintile) consisting of all higher incomes that comes just after the fourth quintile.

Step by step solution

01

Step 1. Quintile

Quintile is a method of measuring income inequality using the following steps.

1. Rank all the incomes from the lowest to the highest.

2. Divide all the incomes into five groups having equal numbers of people. Each of these groups is called quintile.

3. For calculating income distribution, divide the income of each quintile by the total income of all people.

02

Step 2.  The top income quintile

The top income quintile includes the fifth quintile or the last group of people having higher incomes (that comes just after the fourth quintile) and the last highest income in the series.

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