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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

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.

To determine

Check the possibility of increase in real income, while income distribution is unequal.

Explanation

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...

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