which of the following statements is true about income and wealth? course hero

What is considered poor in country A?

Do children born into poor families stay poor?

Is there more inequality in wealth between different groups than in income?

Is income a wealth?

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What is considered poor in country A?

Country A determines who is poor based on median income. Those earning less than half the median income are considered to be poor.

Do children born into poor families stay poor?

In Country B it is often but not always the case that children born into poor families stay poor when they become adults.

Is there more inequality in wealth between different groups than in income?

There is much more inequality in wealth between different groups than there is inequality in income.

Is income a wealth?

Income includes regular payments such as wages while wealth includes assets such as real estate. There is greater inequality between households by wealth than there is by income.

What is considered poor in country A?

Country A determines who is poor based on median income. Those earning less than half the median income are considered to be poor.

Do children born into poor families stay poor?

In Country B it is often but not always the case that children born into poor families stay poor when they become adults.

Is there more inequality in wealth between different groups than in income?

There is much more inequality in wealth between different groups than there is inequality in income.

Is income a wealth?

Income includes regular payments such as wages while wealth includes assets such as real estate. There is greater inequality between households by wealth than there is by income.