False. The average household in the top quintile (of total money income) contains more persons than the average household in the bottom quintile.
According to the United States Census Bureau, the average household in the top quintile had 3.17 persons in 2018, while the average household in the bottom quintile had 2.82 persons. This is attributed to increased family sizes among lower-income households.
The amount of money, property, and other transfers of value obtained over a predetermined period of time in return for services or goods are often referred to as "income." Income is defined in accordance with the context in which the word is employed; there is no single, universal definition.
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