DAY 3 PP INCLASS Income Inequality and Distribution.ppt

DAY 3 PP INCLASS Income Inequality and Distribution.ppt -...

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By what percentage have median and mean income changed? Between 1972 and 2005, has the income distribution become less or more unequal? Explain. Year (in 2005 dollars Median Income Mean Income 1972 $42,617 $47,708 2005 $42,188 $58,779
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Chapter 19: The Economics of Chapter 19: The Economics of the Welfare State (pages 480- the Welfare State (pages 480- 493) 493)
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2005 Income Distribution Initial After Policy Bottom Quintile 2% 5% Second Quintile 7% 10% Third Quintile 14% 15% Fourth Quintile 23% 23% Top Quintile 54% 47%
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GINI COEFFICIENT Ranges from 0 – 1 Gini = 0 Income equally distributed Gini = 1 Income to only 1 person US Gini coefficient = 0.468
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  • Fall '16
  • Income inequality metrics, Income distribution

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