Comments (11) on “The difference in income between the richest and poorest citizens is called”
The difference in income between the richest and poorest citizens is called the wealth gap.
Further explanation
The difference in income is one of those factors causes economic inequality. There are several reasons why some people paid higher than others. Those reasons include:
1. Education/Skills
Education plays an important role in defining someone income. Differences in education, in terms of levels and quality, still play an important role in economic inequality. The level of education is often proportional to the level of skill. Educated or skillful people get higher income.
2. Technology
In many jobs, innovation and technology growth has eliminated several unskilled workers causes them losing the jobs. The impact of increasing unemployment is stagnant or decreasing wages for most workers because of but a high supply of labor.
3. Personal factors
Personal factors such as, IQ, EQ, and ability to save the income varied between individual. It would be resulted in different wealth accumulate.
Several efforts have been made to reduce economic inequality such as increasing the minimum wage, expanding the Earned Income Tax, investing in education and build assets for working families.
Learn more
A government program to reduce poverty
The definition of wealth gap
Program to reduce poverty
Keywords: wealth gap, the difference in income, the income gap, poverty, inequality access to basic services
The difference in income between the richest and poorest citizens is called the wealth gap.
This ultimately implies that, the wealth gap is the difference between the richest and poorest citizens living in a geographical location based on the level of their assets and net worth i.e assets minus their debts.
Hence, the information generated by the government based on the wealth gap of its citizens is typically used for formulating economic policies, plan and financial budgets.
The answer is the wealth gap, economic or wealth inequality. It is usually measured using different metrics from consumption, income, and wealth in assets. Indices are used to indicate the measure of this gap such as the Gini coefficient. Many countries have varying national wealth gaps. Global wealth gap indicates that by 2030 the richest 1% of the global population will possess two-thirds of global wealth.
The difference in income between the richest and poorest citizens is called the wealth gap.
Further explanation
The difference in income is one of those factors causes economic inequality. There are several reasons why some people paid higher than others. Those reasons include:
1. Education/Skills
Education plays an important role in defining someone income. Differences in education, in terms of levels and quality, still play an important role in economic inequality. The level of education is often proportional to the level of skill. Educated or skillful people get higher income.
2. Technology
In many jobs, innovation and technology growth has eliminated several unskilled workers causes them losing the jobs. The impact of increasing unemployment is stagnant or decreasing wages for most workers because of but a high supply of labor.
3. Personal factors
Personal factors such as, IQ, EQ, and ability to save the income varied between individual. It would be resulted in different wealth accumulate.
Several efforts have been made to reduce economic inequality such as increasing the minimum wage, expanding the Earned Income Tax, investing in education and build assets for working families.
Learn more
A government program to reduce poverty
The definition of wealth gap
Program to reduce poverty
Keywords: wealth gap, the difference in income, the income gap, poverty, inequality access to basic services
The difference between them is called “The wealth gap”
[tex]The difference in income between the richest and poorest citizens is called[/tex]
your answer will most likely be a.
the wealth gap.
Explanation:
The difference in income between the richest and poorest citizens is called the wealth gap.
This ultimately implies that, the wealth gap is the difference between the richest and poorest citizens living in a geographical location based on the level of their assets and net worth i.e assets minus their debts.
Hence, the information generated by the government based on the wealth gap of its citizens is typically used for formulating economic policies, plan and financial budgets.
Its
wealth gap hope i helped
Economic inequality is the answer
The wealth gap
wealth gap
Explanation:
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wealth gap
Explanation:
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The answer is the wealth gap, economic or wealth inequality. It is usually measured using different metrics from consumption, income, and wealth in assets. Indices are used to indicate the measure of this gap such as the Gini coefficient. Many countries have varying national wealth gaps. Global wealth gap indicates that by 2030 the richest 1% of the global population will possess two-thirds of global wealth.