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LESSON 14 INCOME DISTRIBUTION 14-1 HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Household Income Activity 1. Rank the household incomes from the lowest to the highest. 2. Determine the aggregate (total) income for the country. 3. Determine the median and the mean income for the country. 4. Divide the households into five equal groups. 5. Determine the aggregate income for each group. 6. Determine the percent of income each group has of the aggregate or total income. (Divide the aggregate income of each group by the overall aggregate income of all households.)

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Page 1: LESSON 14 INCOME DISTRIBUTION 14-1 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Household Income Activity 1. Rank

LESSON 14 INCOME DISTRIBUTION

14-1

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Household Income Activity

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

2. Determine the aggregate (total) income for the country.

3. Determine the median and the mean income for the country.

4. Divide the households into five equal groups.5. Determine the aggregate income for each group.6. Determine the percent of income each group has

of the aggregate or total income. (Divide the aggregate income of each group by the overall aggregate income of all households.)

Page 2: LESSON 14 INCOME DISTRIBUTION 14-1 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Household Income Activity 1. Rank

LESSON 14 INCOME DISTRIBUTION

14-2

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Household Distribution of Income

Fictitious Country

Aggregate (total) household income =

Ranking of Household Groups

Aggregate Income by Group

Percent Distribution of

Aggregate Income

Lowest

Second

Third

Fourth

Highest

Page 3: LESSON 14 INCOME DISTRIBUTION 14-1 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Household Income Activity 1. Rank

LESSON 14 INCOME DISTRIBUTION

14-3

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Mean Household Income (in dollars) Received by Quintiles

Year Lowest Quintile

Second Quintile

Third Quintile

Fourth Quintile

Highest Quintile

1970 10,512 28,475 45,852 64,633 114,421

1980 11,435 28,459 46,961 69,186 123,358

1990 12,204 30,706 50,718 76,468 148,397

2000 13,543 33,815 56,311 87,537 189,692

2010 11,578 30,047 51,777 83,065 178,384

Page 4: LESSON 14 INCOME DISTRIBUTION 14-1 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Household Income Activity 1. Rank

LESSON 14 INCOME DISTRIBUTION

14-4

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Share of Aggregate Income Received by Quintiles

YearPercent Distribution of Aggregate Income

Lowest Quintile

Second Quintile

Third Quintile

Fourth Quintile

Highest Quintile

1970 4.1 10.8 17.4 24.5 43.3

1980 4.2 10.2 16.8 24.7 44.1

1990 3.8 9.6 15.9 24.0 46.6

2000 3.6 8.9 14.8 23.0 49.8

2010 3.3 8.5 14.6 23.4 50.3

Source: U.S. Census Bureau, Statistical Abstract of the United States: 2012 (131st edition) Washington, DC, 2011; http://www.census.gov/compendia/statab/

Page 5: LESSON 14 INCOME DISTRIBUTION 14-1 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Household Income Activity 1. Rank

LESSON 14 INCOME DISTRIBUTION

14-5

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

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