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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Would you expect greater income inequality in country A, where there is a large disparity in age, or in country B, where there is a small disparity in age? Explain your answer.

To determine

The relationship between income inequality in income and disparity in age.

Explanation

Age is of the factor that determines income distribution. Generally, an individual starts earning income from 20s and he may earn up to 40s or 50s. After 50s, his earnings decline. Even other person now earning less than that of the first one in his 20s, income distribution over a period will be same...

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