AUSTRALIA: DISTRIBUTION OF INCOME & WEALTH

?Income is the amount of funds or other benefits, flowing to individuals or households from the sale of factors oer time. ? riches is the value of accumulated assets over time. ?Income inequality refers to the point which income is raggedly distributed among people. ?Income distribution is measured by dint of:* The Lorenz Curve ? a internal representation of the degree of income inequality do a level of aberrance of the distribution of income from a descent of absolute equality amongst income earners. * The Gini Co-efficient ? a mathematical indicator if the degree of income in equality, represented by a number amid 0 and 1, where the closer to 1 the greater the inequality. TRENDS IN INCOME & adenosine monophosphate; WEALTH:?Varies tally to age, gender, occupation, ethnic background, family structure & deoxyadenosine monophosphate; geographics* Age: incomes turn off until retire figureforcet ? 45-55 yrs collar approx. 2.5x the income of 15-24 yrs* grammatical gender: women receive 80% of men?s? ? P/T occupations* stemma: Labourers (mean income $412) and managers &type A; administrators ($1187) (2000). * Ethnic Background: major power to speak English, skills & vitamin A; trainingal activity. * Family Structure: single p arnt familles vs. married coupled families* geography: on average NSW ($482 p/w) and TAS ($391) (2000).

COSTS & BENEFITS OF INCOME variation? economical Benefits:* Encourage task force to improve their education & skills ? better rewards as incentive* Encourage processers to work longer hours ? higher incomes and so higher EG* Encourage entrepreneurs to file more risks ? vital to amplification productive capacity? frugal Costs:* Inequality buttocks reduce EG* Reduces consumption & investment* Increased poverty & social problems are expensive to solve? outgoing Benefits* Very Limited? societal Costs* Social disunite divisions ? rich doesn?t crevice with poor* PovertyGOVERNMENT POLICIES TOWARDS INCOME INEQUALITY? presently:* Fiscal Policy ? with govt. taxation and spending, redistributes income amongst poor. Recent shake in fiscal counterpoise has led to a lessening of this* Changes To... If you want to get a full essay, order it on our website: Ordercustompaper.com

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