ECON 104 Lecture Notes - Lecture 2: Business Cycle
10 Sep 2016
School
Department
Course
Professor
Document Summary
Macroeconomics 1/27/16: cycles, crises, unemployment, measuring output. Income inequality: since about 1980, income inequality has been increasing in. America: after world war ii, for about thirty years, incomes for everyone grew at about the same rate. The income of the poorest one-fifth of the population grew. The income of the next one-fifth of the population grew 98% in 36 years: and so on. All the groups" incomes grew about the same. Amount: next - how much each group"s income grew in the thirty years from 1979 to 2009. The incomes of the poorest one-fifth of the population actually fell. the income of the next group hardly grew at all only 4% in twenty years. The richer the group, the more their income grew. Income inequality did not grow between 1947 and 1973 in america. Income inequality did grow between 1979 and 2009 in.
