The Basic Argument for Income Inequality Is That

question 190

Multiple Choice

The basic argument for income inequality is that

• A)the very rich establish consumption patterns that are desirable for the rest of society to emulate.
• B)the rich buy luxury goods that soon become affordable to everyone else because of economies of scale.
• C)income inequality is essential to maintain incentives to produce.
• D)inequality undermines incentives and tends to reduce the size of the national income.

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Definitions:

Tactical Planning

Short-term, detailed planning that supports strategic decisions, focusing on current operations and immediate actions.

Vision

A clear and inspirational long-term desired change resulting from an organization or individual's work.

Human Resource Plans

Strategic documents that outline an organization's approach to managing its workforce, including recruitment, training, development, and retention strategies.

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Detailed, short-term plans that outline how to achieve tactical objectives and daily operations of an organization.