Which is distributed more unequally, income or wealth? Why? Which is the better measure?
What will be an ideal response?
The distribution of wealth is more unequally distributed than income. Wealth is distributed more unequally than income because wealth data do not include the value of human capital, while the income data measure income from all wealth, including human capital. That is why income is a better measure for economic inequality than wealth.
Economics
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The term "business cycle" most closely refers to the
A) fluctuating profits of firms. B) fiscal year. C) accounting period used by firms. D) alternating periods of expansions and recessions.
Economics
Which type of businesses earns the majority of revenues in the United States?
A) partnerships B) corporations C) sole proprietorships D) none of these
Economics