How has income inequality changed in recent years? What factors account for the changes?
What will be an ideal response?
Over the last couple of decades, income inequality has increased. In recent years, higher income groups have gained relatively more than the lower income groups, perhaps because of rapid technological progress. These technological advances have benefited the better educated more than the less educated.
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The World Bank formed the World Trade Organization when it became clear that to alleviate poverty in developing nations, agricultural trade barriers were going to have to be reduced
Indicate whether the statement is true or false
If more people enter medical school, we can expect
a. the demand for doctors to increase b. the supply of doctors to increase c. the demand for doctors to decrease d. the supply of doctors to decrease e. no effect on the supply or demand of doctors—just a movement along the curves