If Income Inequality Is Increasing, It Means That the Income

question 230

True/False

If income inequality is increasing, it means that the income levels of the poor are falling while the income levels of the rich are rising.

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Definitions:

Instalment Payments

Payments made periodically towards the settlement of a debt or purchase price, typically including interest.

Interest

The charge for borrowing money or the compensation paid to depositors on their deposits, usually expressed as an annual percentage rate.

Unpaid Balance

The amount of money that is still owed on a loan or credit line that has not yet been paid.

Loan Principal

The amount of money that is borrowed and must be repaid, not including interest or any other charges.