Asked by Stacie Batchelor on Jul 19, 2024
Verified
A popular choice for the MOST important cause of the increase in income inequality in recent years is:
A) the elimination of many income redistribution programs.
B) rapid technological change.
C) the failing education system.
D) the failing education system and rapid technological change.
Technological Change
Innovations and improvements in technology that enhance productivity, efficiency, and the overall quality of goods and services.
Income Inequality
Describes the uneven distribution of income among individuals in a society, where some earn significantly more than others.
Redistribution Programs
Government policies or initiatives designed to transfer income or wealth from certain groups of individuals to others, often aiming at reducing economic inequalities.
- Determine the reasons and outcomes of shifts in income disparity throughout the past several years.
Verified Answer
TK
Tagen KennedyJul 21, 2024
Final Answer :
B
Explanation :
Rapid technological change has led to the creation of new industries and the destruction of others, resulting in a shift in the demand for certain skills and an increase in demand for highly skilled workers who can command higher salaries. This has led to a widening income gap between those with high and low levels of education and skills. The other options may also contribute to income inequality, but technological change is often cited as the most significant factor.
Learning Objectives
- Determine the reasons and outcomes of shifts in income disparity throughout the past several years.