FMSC 381- Final Exam Guide - Comprehensive Notes for the exam ( 67 pages long!)
28 Mar 2018
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U. s. average household income quintiles (2016: 1st quintile (poorest 20% of population): ,918. Income inequality: rising income inequality has been a defining characteristic of the us economy for over 50 years, common measures of income inequality: Share of aggregate income received by subgroups of population. Gini index: higher values indicate greater levels of income inequality, gini value of 0 means all households have equal income, gini value of 1 means one household has all the income. In us; wealth gap is larger today. In late 1990s, stock market boomed, median household wealth increased. Early 2000s, stock market declined, home values increased. Great recession led to broad losses in wealth, but richest faced smaller declines. Tuesday, september 12, 2017: us poverty rate has fluctuated over time. Increased poverty rate during periods of recession.
