Economics (MindTap Course List)
Economics (MindTap Course List)
Is it possible for everyone’s real income to rise even though the income distribution in a society has become more unequal? Prove your answer with a numerical example.
Check the possibility of increase in real income, while income distribution is unequal.
The income distribution may be increase as the real income increases. For example, two people A and B earn income $10,000 and $20,000, respectively. Individual A earns double of B’s income. After some years, the income of both A and B is increased as $20,000 and $80,000, respectively...
Chapter 28 Solutions
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