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4%. 0.2%. 11%. 0.1%. 20%. 11%. 20%. 15%. 36%. 20%. 20%. 18%. 84%. 21%. 20%. Household Income Activity. 1. Rank the household incomes from the lowest to the highest. 2. Divide the households into 5 equal groups. 3. Determine the total amount of household income in the country.

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  1. 4% 0.2% 11% 0.1% 20% 11% 20% 15% 36% 20% 20% 18% 84% 21% 20%

  2. Household Income Activity 1. Rank the household incomes from the lowest to the highest. 2. Divide the households into 5 equal groups. 3. Determine the total amount of household income in the country. 4. Determine the mean and median income in the country. 5. Determine the percent of household income each group has of the total by dividing aggregate income of each group by the overall aggregate or total income of all households.

  3. Household Distribution of Income

  4. Share of Aggregate Income Received by Quintiles Source: U.S. Census Bureau, Statistical Abstract of the United States: 2012 (131st edition) Washington, DC, 2011;< http://www.census.gov/compendia/statab/>.

  5. The difference in earnings between college graduates and those with a high school diploma rose form 38% in 1979 to 75% in 2006 • How does this information support the statement, “Investment in human capital matters”? Source: Fed Chairman Ben Bernanke, Omaha Chamber of Commerce, 2007

  6. Median and Mean Income

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