Inequality

Question 1

how do you measure inequality?

Answer 1

Lorenz Curve, Gini coefficient

Question 2

how can you reduce inequality

Answer 2

redistribute wealth or income through tax to transfer payments or supply side policy

Question 3

what does inheritance tax control?

Answer 3

Wealth

Question 4

what is income tax in the uk

Answer 4

Progressive and direct (rich pay more on tax as a % of their income).

Question 5

what is absolute poverty?

Answer 5

can not afford essentials for basic standards of living

Question 6

what is relative poverty?

Answer 6

Can not afford things considered normal in your community

Question 7

what are positive impacts of inequality

Answer 7

More rich means more investment which leads to the MULTIPLIER EFFECT and people get bigger rewards for their work.

Question 8

name 3 negative impacts of inequality

Answer 8

low economic growth, high violence, poor diet and healthcare

Question 9

what could homocide be reduced by if the world was more equal and robbery

Answer 9

20%

23%

Question 10

what % is there an excess of mortality risk at 0.05unit on the gini coeffient

Answer 10

8%

Question 11

what % of males smoke in most vs least deprived areas

Answer 11

49% vs 26%