ECONOMICS
INCOME DISTRIBUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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False
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True
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Either A or B
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None of the above
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Detailed explanation-1: -Income Inequality Has Been on the Rise Since the 1980s, and Continues Its Upward Trajectory. Income inequality in the US continues to rise, according to a report from the Congressional Budget Office.
Detailed explanation-2: -The rise in net worth of well-to-do Americans is attributed to the stock market boom, high interest rates paid on certificates of deposit and similar investments, and to the explosion in home prices throughout much of the ‘80s.
Detailed explanation-3: -Income inequality in the UK, as measured by the Gini coefficient, increased by 1.3 percentage points to 35.7% when comparing financial year ending (FYE) 2021 to FYE 2022 (as seen in Figure 1).
Detailed explanation-4: -What has happened to income inequality and the poverty rate of the world since 1980? registered a mixed growth record; some grew rapidly while others stagnated.