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What is the slope of the tangent line to the curve at the point (0, 1) ?
Income Mobility
Movement of individuals and families either up or down income-distribution rankings when comparisons are made at two different points in time. When substantial income mobility is present, a person’s current position in the rankings will not be a very good indicator of what his or her position will be a few years in the future.
Income Inequality
The uneven distribution of income within a population, leading to disparities between the wealth of different groups.
Annual Data
Information or statistics recorded over a one-year period.
Positive Economics
An aspect of economics that focuses on objective analysis and descriptions of how the economy functions, without prescribing policies.
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