Which of the following is a correct statement about the distribution of income and wealth in the united states? a. the share of money income received by the lowest quintile has increased significantly since world war ii. b. the united states is close to perfect income equality comma as measured by the lorenz curve. c. if pension plans are added to measures of wealth comma it is clear that the majority of households have low levels of wealth. d. the share of total income received by the lowest quintile has more than doubled since world war ii. e. all of the above answers are correct.

The correct answer is letter "B": The United States is close to perfect income equality comma as measured by the Lorenz curve.

Explanation:

Named after American economist Max Lorenz (1901-1975), the Lorenz curve portraits the income inequality of a country. It shows a straight diagonal line with a slope of 1 meaning perfect income equality and a curve underneath the line that shows the real distribution.  

The area between the line and the curve is represented by the Gini coefficient (named after Corrado Gini, 1884-1965). The coefficient fluctuates between 0 and 1, 0 being perfect equality and 1 implying households have all the income available. In 2018, the U.S. had a Gini of 0.378.

Explanation:

Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20-, is as follows: Social Security tax is 6.2% on the first $110,100 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings. Taxable Earnings Unemployment Social Compensation Security Employee Name Carlos, Peggy Sanchez, Carmela Delaney, Roger Weitz Alana Dunhill, Craig Bella, Stephen Cumulative Pay Current Before Current Gross Earnings Pay $ 84,240 $2,350 81,900 2,100 109,800 3,320 6,300 1,100 6,800 1,000 42,330 1,850 1. Calculate the number of taxable earnings for unemployment and Social Security taxes. Cumulative Pay Current Taxable Earnings Before Current Gross Unemployment Social Employee Name Earnings Pay Compensation Security Carlos, Peggy $ 84,240 $2,350 Sanchez, Carmela 81,900 2,100 Delaney, Roger 109,800 3,320 Weita, Alana 6,300 1,100 Dunhill, Craig 6.800 Bella, Stephen 42,330 1,050 1.000 2. Prepare the journal entry to record the employer's payroll taxes as of September 28, 20, If required, round your answers to the nearest cent. If an amount has not required an entry leave it blank