WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
IMMIGRATION IN INDUSTRIAL AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Everyone is equal
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Everyone is happy with their jobs and geting paid equal
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The wealthy becoming more rich and poor becoming more poor
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The working wage group was paid the best among classes
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Detailed explanation-1: -Economic inequality is the unequal distribution of income and opportunity between different groups in society. It is a concern in almost all countries around the world and often people are trapped in poverty with little chance to climb up the social ladder.
Detailed explanation-2: -Economic inequality (also known as the gap between rich and poor) consists of disparities in the distribution of wealth and income.
Detailed explanation-3: -Differences in the economic growth rate of nations often come down to differences in inputs (factors of production) and differences in TFP-the productivity of labor and capital resources. Higher productivity promotes faster economic growth, and faster growth allows a nation to escape poverty.
Detailed explanation-4: -Income inequality is how unevenly income is distributed throughout a population. The less equal the distribution, the higher income inequality is. Income inequality is often accompanied by wealth inequality, which is the uneven distribution of wealth.