Inequality in the Distribution of Income and Wealth Is Increased

question 30

Multiple Choice

Inequality in the distribution of income and wealth is increased by

• A) the point that the children of the poorest find it difficult to get into college.
• B) saving to redistribute an uneven income over the life cycle.
• C) marrying outside one's own socioeconomic class.
• D) donating money to charities.
• E) the U.S. income tax.

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Definitions:

Unconscionability

A legal doctrine that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of one party, that they are contrary to good conscience.

Specific Performance

A legal remedy in contracts law requiring a party to perform their part of the contract, rather than simply paying damages for failing to do so.

Equitable Remedy

An equitable remedy is a judicial order enforcing a party to act or refrain from acting in a certain way, typically used when monetary damages are inadequate to resolve the harm.

Exculpatory Clause

A part of a contractual agreement that releases one party from liability for any wrongdoings towards the other.