The figure below shows the aggregate demand and supply curves for the U.S.The figure given below shows that from the beginning of period 1 to the end of period 2:
Definitions:
Inequality
The unequal distribution of resources, opportunities, and privileges among individuals or groups, often based on characteristics like wealth, income, race, education, and gender.
Intergenerational Mobility
Is social mobility that occurs between generations.
Intragenerational Mobility
Is social mobility that occurs within a single generation.
Horizontal Mobility
The movement of individuals or groups across similar social and economic positions, without a change in their status.
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