Asked by
Evgeny Vinnik
on Nov 26, 2024Verified
Which of the following would most likely increase income inequality?
A) improvements in public education
B) greater monopoly power among product sellers
C) greater equality in the distribution of wealth
D) fewer differences in working conditions across occupations
Income Inequality
The unequal distribution of income and wealth across individuals or groups within a society, often measured using tools like the Gini coefficient.
Monopoly Power
The ability of a monopoly (a single seller in the market) to control market prices for its product or service, often resulting in higher prices and lower output than in competitive markets.
Public Education
Public education refers to the schooling system that is financed and operated by government agencies to provide free education to all students.
- Discuss the societal and economic impacts of income and wealth inequality.
Verified Answer
EH
Learning Objectives
- Discuss the societal and economic impacts of income and wealth inequality.