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Rising Within-Country Income Inequality in Recent Decades
Comparative Analysis of National Income Distribution
Consider the following economic data for two hypothetical countries. Your task is to calculate the rich/poor income ratio for each country and determine which one exhibits greater income inequality. Explain your reasoning based on your calculations.
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Comparative Analysis of National Income Distribution
Country A has a high average income per person and a rich/poor ratio of 18. Country B has a moderate average income per person and a rich/poor ratio of 5. The rich/poor ratio is calculated by dividing the average income of the wealthiest 10% of the population by the average income of the poorest 10%. Based solely on this information, which statement is the most accurate conclusion?
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A country's high average income is a reliable indicator that it also has low income inequality (a small gap between the average income of the richest 10% and the poorest 10%).
Consider a country where the gap between the rich and poor is measured by dividing the average income of the wealthiest 10% of the population by the average income of the poorest 10%. If a new government policy successfully doubles the average income of the poorest 10%, it is certain that this measure of inequality will be cut in half.
Country Alpha and Country Beta both have a similarly high average income per person. However, a visualization of their income distributions shows that Country Alpha has a much taller column representing the income of its wealthiest 10% compared to Country Beta. The columns representing the poorest 10% in Country Alpha are also much shorter than in Country Beta. What is the most logical conclusion that can be drawn from this information?
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