Inequality
Study Guide Overview
This study guide covers income inequality, focusing on income vs. wealth inequality, the Lorenz Curve and Gini Coefficient, and the impact of progressive, regressive, and proportional taxes. It explains how to interpret and calculate these measures, and their relationship to market failure. Practice questions and exam tips are included.
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Question 1 of 11
🎉 What does income inequality specifically refer to?
The distribution of assets among a population
The distribution of annual earnings among a population
The total value of goods and services produced in a country
The number of people living below the poverty line