Define both income and wealth. Describe and explain their distribution in the United States (equal/unequal), and how that distribution has varied over time.
What will be an ideal response?
Answers may vary but should explain that income is the amount of money a person earns from a job, business, or returns on investment in a given year. Wealth is a measure of a person's total financial assets that have worth. For example, property or automobiles. Wealth is more unevenly distributed than income. Income has significant disparities, particularly when comparing the top 0.1 percent is to the bottom 90 percent. Wealth inequality has increased in recent years. This has occurred in the United States and other Western countries.
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