How does the distribution of wealth differ from the distribution of income in the United States?
What will be an ideal response?
As conventionally measured, the distribution of wealth is more unequally distributed than the distribution of income. However, the wealth figures usually do not include workers' claims on pension plans or human capital. If these were included, the distribution of wealth would be less unequal than reported.
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When a pharmaceutical company introduces a new drug, its research and development costs are ________, and the cost of the chemicals used in manufacturing the drug are ________.
A. start-up costs; variable costs B. start-up costs; fixed costs C. marginal costs; variable costs D. fixed costs; start-up costs
If the percentage increase in price is 15 percent and the value of the price elasticity of demand is -3, then quantity demanded
A) will increase by 5 percent. B) will decrease by 5 percent. C) will increase by 45 percent. D) will decrease by 45 percent.
If the economy is growing 5% a year and GDP is $1000 billion, the additional revenues available to meet interest payments on the government deficit would be, ceteris paribus,
A) 50. B) 500. C) It depends upon the amount of new debt issued. D) There would be no additional revenues.
Suppose the economy is initially in long run equilibrium. Which of the following lead to an increase in price level and a decrease in real GDP in the short run?
A. decrease in health insurance premiums paid by firms raises the cost of employing labor B. increase in govt transfer payments C. increase in the cost of a key input like oil D. sharp fall in stock market prices