Which of the following factors contributes to income inequality?

Question

Quizplus · Accepted Answer

All of the factors mentioned contribute to income inequality. The rising premium attached to jobs requiring higher education means that those with advanced degrees or specialized skills earn significantly more than those without. The decline of high-wage manufacturing jobs means that individuals without higher education or specialized skills are left with lower paying service sector jobs. The decline of unions means there is less bargaining power for workers, leading to lower wages and benefits. Tax and spending policies that disproportionately favor the well-off means that the wealthy are able to accumulate more wealth while low and middle-income individuals struggle to make ends meet. All of these factors together contribute to income inequality.

Which of the Following Factors Contributes to Income Inequality