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A question of great interest to economists is how the distribution of family income has changed in the United States during the last 20 years.The summary measures and histograms shown below are generated for a sample of 500 family incomes,using the 1985 and 2005 income for each family in the sample.
Summary Measures:
Based on these results,discuss as completely as possible how the distribution of family income in the United States changed from 1985 to 2005.
Pleasant Outcomes
The positive results or benefits achieved from a specific action, decision, or event.
Unpleasant Outcomes
Negative or undesirable results that arise from certain actions or decisions, often leading to dissatisfaction or adverse effects.
Reinforcement Theory
A behavioral theory which suggests that behavior is influenced by its consequences, either through rewards or punishments.
Environmental Consequences
The effects or outcomes of actions on the natural environment, including pollution, biodiversity loss, and climate change.
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