Suppose that the United States has a Gini ratio of 0.41 while Sweden has a Gini ratio of 0.31. Which country has a more equal distribution of income?
a. The United States.
c. They are actually equal.
2. Some part of income inequality is likely to be the result of discrimination. But other factors responsible for inequality include (select as many as apply):
a. Differences in abilities and talents.
b. Differences in education and training.
c. Different preferences for work versus leisure.
d. Different preferences for low-paying but safe jobs relative to high-paying but dangerous jobs.
3. Suppose that a society contains only two members, a lawyer named Monique and a handyman named James. Five years ago, Monique made $100,000 while James made $50,000. This year, Monique will make $300,000 while James will make $100,000. Which of the following statements about this society’s income distribution are true?
Select one or more answers from the choices shown.
a. In absolute dollar amounts, the entire distribution of income has been moving upward.
b. In absolute dollar amounts, the entire distribution of income has been stagnant.
c. The relative distribution of income has become more equal.
d. The relative distribution of income has become less equal.
e. The relative distribution of income has remained constant.
f. The rich are getting richer while the poor are getting poorer.
g. The rich are getting richer faster than the poor are getting richer.
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