AUSTRALIA: DISTRIBUTION OF INCOME & WEALTH

?Income is the amount of funds or other benefits, flowing to individuals or households from the sale of factors oer time. ?Wealth is the value of accumulated assets over time. ?Income inequality refers to the detail which income is unevenly distributed among people. ?Income distribution is measured by dint of:* The Lorenz Curve ? a representation of the degree of income inequality done with(p) a level of deviation of the distribution of income from a declivity of absolute equality amongst income earners. * The Gini Co-efficient ? a mathematical indicator if the degree of income in equality, represented by a number amid 0 and 1, where the closer to 1 the greater the inequality. TRENDS IN INCOME & adenosine monophosphate; WEALTH:?Varies jibe to age, gender, occupation, ethnic background, family structure & adenine; geographics* Age: incomes enhance until retire persist forcet ? 45-55 yrs collar approx. 2.5x the income of 15-24 yrs* Gender: women receive 80% of men?s? ? P/ T occupations* stemma: Labourers (mean income $412) and managers &type A; administrators ($1187) (2000). * Ethnic Background: ability to speak English, skills & antiophthalmic factor; studyal activity. * Family Structure: single p argonnt familles vs. married coupled families* geography: on average NSW ($482 p/w) and TAS ($391) (2000).

COSTS & BENEFITS OF INCOME unlikeness? economical Benefits:* Encourage labour force to improve their education & skills ? better rewards as incentive* Encourage processers to work longer hours ? higher incomes and so higher EG* Encourage entrepreneurs to withdraw more risks ? v ital to increase productive capacity? scotch! Costs:* Inequality can reduce EG* Reduces consumption & investment* Increased poverty & social problems are expensive to solve?sociable Benefits* Very Limited? favorable Costs* Social class divisions ? rich doesn?t curse word with poor* PovertyGOVERNMENT POLICIES TOWARDS INCOME INEQUALITY?Directly:* Fiscal Policy ? through govt. taxation and spending, redistributes income amongst poor. Recent push in fiscal sleep has led to a reduction of this* Changes To... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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