Question

Which statement accurately reflects the consensus among economists regarding income disparity?

1. There is a broad consensus among economists regarding the implications of income disparity and whether it is ultimately positive or negative.
2. Economists generally agree on the positive effects of income disparity.
3. There is a lack of consensus among economists on the implications of income disparity and on whether it is ultimately positive or negative.

• A. 3 only
• B. 1, 2
• C. 2 only
• D. 1, 3

Answer 1

Answer:

A. 3 only

• Income inequality is often presented as percentage of income to a percentage of population

• The causes of income inequality could vary by region, gender, education and social status.

• There is a lack of consensus among economists on the implications of income disparity and on whether it is ultimately positive or negative.