Top 0.1% Income Share 1913 1973 1978 1983 1988 1993 1998 2003 2008 4. Research by Piketty and Saez have been very influential and show that inequality has been rising rapidly over the last 50 years. See their key figure below. What are two or three ways that this figure may overstate the rise in inequality since the 1970s? Top 0.1% US Pre-Tax Income Share, 1913-2012 12% Top 0.1% income share (incomes above $1.91m in 2012) 10% 8% 6% 4% 2% 0% Souroe: Piketty and Saez. 2003 updated to 2012.Serics besed on pre taR Cesh mahet income including or excluding realieed capital gains, end aways exciudirg goremment ansers
Top 0.1% Income Share 1913 1973 1978 1983 1988 1993 1998 2003 2008 4. Research by Piketty and Saez have been very influential and show that inequality has been rising rapidly over the last 50 years. See their key figure below. What are two or three ways that this figure may overstate the rise in inequality since the 1970s? Top 0.1% US Pre-Tax Income Share, 1913-2012 12% Top 0.1% income share (incomes above $1.91m in 2012) 10% 8% 6% 4% 2% 0% Souroe: Piketty and Saez. 2003 updated to 2012.Serics besed on pre taR Cesh mahet income including or excluding realieed capital gains, end aways exciudirg goremment ansers
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
Related questions
Question
A5
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning