According to the US Census Bureau (https://en.wikipedia.orglvviki/United_States_Census_Bureau): • 1970(https://en.wikipedia.org/wiki/1970): 0.394 • 1980(https://en.wikipedia.org/wiki/1980): 0.403 • 1990(https://en.wikipedia.org/wiki/1990): 0.428 • 2000(https://en.wikipedia.org/wiki/2000): 0.462 • 2005(https://en.wikipedia.org/wiki/2005): 0.469
- Table 4.2 shows that Gini coefficient has increased from .349 in 1970 to .469 in 2005, indicating that income inequality in the has been in the past 35 years.
a. increasing b. decreasing
Which answer is correct, a or b? In which year is the level of inequality is highest? In which year is the level of inequality is lowest? 2. Why has income inequality has grown significantly since 1980? Your text provides two explanations, (1) Political policies since the late 1970s and (2) changes in the U.S. economy. Which one makes more sense? Why? Be specific.
To answer this question, Step 1: briefly present the two explanations in your textbook. Step: which one makes more sense (or no sense) to you? Explain why.
- What is the difference between income and wealth? (Be specific). Why do you think that the level of wealth inequality is higher than the level of income inequality? (Be specific).
To answer this question, Step 1: present the definition of each concept and describe their differences