Asked by
James Maxwell
on Nov 16, 2024
Verified
Refer to Table 20-4. Comparing data from 2000 and 2017, which of the following statements is correct?
A) There has been no change in overall income inequality because the share of income held by the fourth quintile is nearly identical.
B) Overall income inequality has worsened slightly, as shown by the simultaneous increase in the share of income held by the top quintile and the decrease in the share of income held by the bottom quintile.
C) Overall income inequality has improved because the share held by the second quintile has declined by 0.6%.
D) Overall income inequality has improved because the share held by the bottom quintile has declined by 0.5%.
Income Inequality
Refers to the uneven distribution of income and wealth across the various participants in an economy.
Top Quintile
The highest twenty percent segment of a population sorted by income or other measurable criteria.
Bottom Quintile
The segment of a population that ranks in the lowest 20% in terms of income, wealth, or another socioeconomic metric.
- Analyze the impact of government policies on poverty and income inequality.
Verified Answer
AM
Learning Objectives
- Analyze the impact of government policies on poverty and income inequality.