Discuss the Key Changes in the Distribution of Income Over

question 22

Essay

Discuss the key changes in the distribution of income over the 20th century.Use statistics to back the claim that the income distribution after transfers is about as unequal today as it was almost twenty years ago.

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Definitions:

Internationally

Pertains to activities, transactions, or operations that occur between or involve more than one country.

Interest Expense

The cost incurred by an entity for borrowed funds, usually presented on the income statement as a cost of financing.

Note Payable

A written promise to pay a specific amount of money, usually including interest, at a future date or under specific conditions.

Adjusting Entry

Adjusting entry is a journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.