a. from the list below, select the measure(s) that are measures of inequality. wealth spending…

a. from the list below, select the measure(s) that are measures of inequality. wealth spending intergenerational mobility permanent income b. why is it important to consider more than just annual income when assessing inequality? imports and exports should also be counted to get a full picture or earnings. living standards and the quality of life encompass more than just current income. the poverty rate is based on diminishing marginal utility, which depends on more than income. illegal activities skew gdp and gnp, and this impacts citizens incomes.

a. from the list below, select the measure(s) that are measures of inequality. wealth spending intergenerational mobility permanent income b. why is it important to consider more than just annual income when assessing inequality? imports and exports should also be counted to get a full picture or earnings. living standards and the quality of life encompass more than just current income. the poverty rate is based on diminishing marginal utility, which depends on more than income. illegal activities skew gdp and gnp, and this impacts citizens incomes.

Answer

Brief Explanations:

a. Wealth and permanent income are measures that look beyond just annual income. Wealth represents the net worth of individuals or households and permanent income is an average - expected income over a long - term. These are important for a more comprehensive view of inequality as they capture long - term economic well - being rather than just short - term earnings. b. Considering factors beyond annual income is crucial because annual income can be volatile and doesn't account for long - term economic security or overall economic status. Imports and exports can affect a country's economic structure and living standards, which in turn impact inequality. Living standards and quality of life factors like access to education, healthcare, and housing are important as they reflect the real economic situation of individuals. The poverty rate based on diminishing marginal utility takes into account that the value of additional income is different for the poor compared to the rich. Illegal activities affecting GDP and GNP can distort economic measures and thus impact the understanding of citizens' real incomes.

Answer:

a. Wealth, Permanent income b. Annual income is volatile and doesn't fully represent economic well - being. Factors like imports/exports, living standards, poverty rate based on marginal utility, and illegal activities' impact on GDP/GNP are important for a comprehensive view of inequality.