The Normal Life Cycle Pattern of Income

question 418

Multiple Choice

The normal life cycle pattern of income

• A)contributes to more inequality in the distribution of annual income and to more inequality in living standards.
• B)contributes to more inequality in the distribution of annual income, but it does not necessarily contribute to more inequality in living standards.
• C)contributes to less inequality in the distribution of annual income and to less inequality in living standards.
• D)has no effect on either the distribution of annual income or on living standards.

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Definitions:

Unequal Access

A situation where resources, opportunities, or services are distributed unevenly among different groups in society.

Affordability

The degree to which a good or service is priced at a level that is accessible to individuals or communities, often in relation to income and expenses.

Latent Function

Unintended and unrecognized consequences of an institution or social phenomenon.

Education

The process of receiving or giving systematic instruction, particularly at a school or university, fostering knowledge and skill development.