Discussions of inequality often focus on annual income inequality. a. From the list below, select the measure(s) that are measures of inequality. Wealth Intergenerational mobility Spending Permanent income b. Why is it important to consider more than just annual income when assessing inequality? Illegal activities skew GDP and GNP, and this impacts citizens' incomes. Living standards and the quality of life encompass more than just current income. Imports and exports should also be counted to get a full picture or earnings. The poverty rate is based on diminishing marginal utility, which depends on more than income.

Discussions of inequality often focus on annual income inequality. a. From the list below, select the measure(s) that are measures of inequality. Wealth Intergenerational mobility Spending Permanent income b. Why is it important to consider more than just annual income when assessing inequality? Illegal activities skew GDP and GNP, and this impacts citizens' incomes. Living standards and the quality of life encompass more than just current income. Imports and exports should also be counted to get a full picture or earnings. The poverty rate is based on diminishing marginal utility, which depends on more than income.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Income Inequality And Poverty

Section: Chapter Questions

Problem 2CQQ

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a. From the list below, select the measure(s) that are measures of inequality. Intergenerational mobility Permanent income Wealth Spending
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