In an economy, over the last decade, each of the top five decile groups has experienced a fall in their share of total income. In contrast, the bottom five decile groups have experienced a substantial increase in their share of total income. It can be concluded that, over this period, the distribution of income is most likely to have become A more equal B more equal but less equitable C more equitable D more equitable but less equal
In an economy, over the last decade, each of the top five decile groups has experienced a fall in their share of total income. In contrast, the bottom five decile groups have experienced a substantial increase in their share of total income. It can be concluded that, over this period, the distribution of income is most likely to have become A more equal B more equal but less equitable C more equitable D more equitable but less equal
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In an economy, over the last decade, each of the top five decile groups has experienced a fall in their share of total income. In contrast, the bottom five decile groups have experienced a substantial increase in their share of total income.
It can be concluded that, over this period, the distribution of income is most likely to have become
A more equal
B more equal but less equitable
C more equitable
D more equitable but less equal
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