Microeconomics Income And The United States - 1702 Words

Microeconomics: Income Inequity in the United States No matter which country you would look into whether it’s from wealthier to those less wealthy countries through the eyes of economics, there are bound to be types of inequity within their borders. Inequity is a very crucial problem in the United States, you would think that our economy here in the states is booming, and the citizens are living life easy or without worry. Life is the United States isn’t as it seems, in fact, Inequity is in fact a big problem even in the United States. Over the years, there has been millions of Americans that were considered to be in poor or in poverty line that are not able to provide for themselves and their families. We can sadly see those Americans on the streets, cars or shelters unable to keep-ends meet that are not able to keep a decent paying job. That is why throughout this paper I’ll be discussing why inequity is a big issue in the United States from how income is distr ibuted through causes of income inequality, social status, and even how the government interventions is trying to alleviate income inequity. What is income inequality? First we must define what exactly income inequality really is and that is according to Definition of ‘Income Inequality’ (2015) said to be unequal income distributed to household or individual across the various participants in an economy. Income inequality is often presented as the percentage of income to a percentage of population. For example,Show MoreRelatedMicroeconomics: The Foundation behind Small Businesses1130 Words   |  5 PagesMicroeconomics: The Foundation behind Small Businesses Small business are said to be the backbone of the United States economy. It said that small businesses contribute to growth and vitality in the specific area of the United States economic development. 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