Question

Economic growth and income distribution​

Answer 1

Answer:

Hey Mate

Economic growth is an increase in the production of goods and services over a specific period. To be most accurate, the measurement must remove the effects of inflation. Economic growth creates more profit for businesses. As a result, stock prices rise. That gives companies capital to invest and hire more employees.

In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern..

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Answer 2

Answer:

Economic growth will reduce income inequality if : wages of the lowest paid rise faster than thr average wage . Government benefits , such as ; unemployment benefits, sickness benefits and pensions are increased in line with average wages. Economic growth creates job opportunities which reduce thr level of unemployment