Principles of Economics, 7th Edition (MindTap Course List)
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 20, Problem 2QCMC
To determine

The comparison of income inequality between US and other countries.

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(a) Suppose that your professor asks you to compare China and India based on income inequality. Which measure would you use and explain how would you determine which country is doing better based on the chosen measure? (b) Suppose that your professor asks you to compare China and India based on economic development. Which measure would you use and explain how would you determine which country is dbing better based on the chosen measure?
The ratio of income of the richest fifth of the population to the income of the poorest fifth for the U.S. is?
How do gains in income inequality influence economic growth and expenditure rates?
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