Which concept compares the share of total wealth in society that is received by different groups?
a. Income inequality
b. Poverty line
c. Poverty rate
d. Financial distribution
a. Income inequality
Income inequality compares the share of the total income (or wealth) in society that is received by different groups; for example, comparing the share of income received by the top 10% to the share of income received by the bottom 10%.
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If the demand for money is relatively stable,
A) the velocity of money will be constant. B) the velocity of money will grow at a steady and predictable rate. C) a fixed growth rate for the nominal money supply will lead to a stable growth rate of nominal GDP. D) B and C are both correct.
A balanced budget would not affect income because an increase in government spending is exactly matched by an increase in taxes
a. True b. False Indicate whether the statement is true or false