The basic argument for income inequality is that
A) the very rich establish consumption patterns that are desirable for the rest of society to emulate.
B) the rich buy luxury goods that soon become affordable to everyone else because of economies of scale.
C) income inequality is essential to maintain incentives to produce.
D) inequality undermines incentives and tends to reduce the size of the national income.
Correct Answer:
Verified
Q114: Wealth
A)is a flow concept.
B)refers to accumulated financial
Q115: Since 1980, the difference between the earnings
Q116: The term "growing income inequality" implies that
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents