Economics Income

What are the two main types of economic inequality?

• wealth inequality

• income inequality

• social inequality

• energy inequality

Global wealth is distributed equally around the globe.

• False

• True

Branko Milanovic was an economist that specialized in ...

• inequality

• banking

• scarcity

• distribution

Globalization has helped rich people more than it has helped poor people.

• True

• False

If you only have a high school diploma and no college degree, you can expect your salary to ...

• decrease with time.

• increase with time.

• stay the same over time.

Max Lorenz created a graph to show ...

• inequality

• distribution

• wealth

• trade

There is a debate over whether income equality actually exists.

• False

• True

More income inequality promotes more _____ inequality.

• political

• trade

• distribution

• health

____________ is the key to reducing the income gap.

• Education

• Political power

• A new economic system

A _______ tax is one in which the tax rate increases as the taxable amount increases.

• progressive

• regressive

• social

• communist