In developed countries, which one is correct?Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.aMarket income inequality > Final distribution of income>Wealth inequalitybWealth inequality > Market income inequality > Post-fisc income inequalitycWealth inequality < Market income inequality < Post-fisc income inequalitydMarket income inequality > Post-fisc income ine
Question
In developed countries, which one is correct?Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.aMarket income inequality > Final distribution of income>Wealth inequalitybWealth inequality > Market income inequality > Post-fisc income inequalitycWealth inequality < Market income inequality < Post-fisc income inequalitydMarket income inequality > Post-fisc income ine
Solution
The correct answer is b) Wealth inequality > Market income inequality > Post-fisc income inequality.
Here's why:
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Wealth inequality: This is usually the highest form of inequality in developed countries. Wealth, which includes assets like houses, land, stocks, etc., is usually more unevenly distributed than income.
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Market income inequality: This is the inequality in the income that individuals or households obtain from working and from owning businesses or shares before taxes and transfers. It is usually less than wealth inequality because income is more evenly distributed than wealth.
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Post-fisc income inequality: This is the inequality after taxes and transfers. In developed countries, the government usually uses taxes and transfers to reduce inequality. Therefore, post-fisc income inequality is usually the lowest form of inequality.
Similar Questions
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Among the following high-income nations, __________ generally stands out as having greater income inequality.A.Great BritainB.the United StatesC.SwedenD.Japan
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