Define both income and wealth. Are both of these elements distributed equally in the United States? Which is more unevenly distributed within the United States? Is that difference becoming smaller or greater?

Question

What will be an ideal response?

Answer 1

but should explain that income is the amount of money a person earns from a job, business, or returns on investment in a year, measured year by year, and wealth is a measure of a person’s total financial assets and other assets that have worth such as property or automobiles. Wealth is more unevenly distributed than income, as identified on page 214. Income has some big disparities, especially if the top 0.1 percent is compared to the bottom 90%, but even with how big that difference is, wealth inequality is the big difference and it has increased in recent years in the United States and other Western countries.