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Distribution of Income and Wealth

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Complete summary of the chapter on the distribution of income and wealth from the economic issues topic.

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19 Pages Partial Study Notes > 2 Years old
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Distribution of Income and Wealth
Topics this document covers:
Economy Social inequality Distribution of wealth Income inequality metrics Welfare economics Economic inequality in the United States Gini coefficient Income distribution Economic inequality Household income in the United States Distribution Lorenz curve
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Topics this document covers:
Economy Social inequality Distribution of wealth Income inequality metrics Welfare economics Economic inequality in the United States Gini coefficient Income distribution Economic inequality Household income in the United States Distribution Lorenz curve
Sample Text:
• Economic evidence suggests that inequality in Australia is around the average level for developed nations. • During the late 1990s and 2000s, the level of inequality in Australia’s income distribution generally became more unequal. • Many of the factors that contribute to increased inequality are side effects of the policies that aim to create a more efficient, internationally competitive economy. • While inequality is a feature of all economies, the degree of inequality increases when nations make their tax systems more regressive, reduce welfare payments, reduce government services and deregulate labour markets. 1.2- Measuring the distribution of income and wealth • Income is the amount of money, or other benefits measured in mon...
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