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income distribution synonym

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Modern economists have also addressed this issue, but have been more concerned with the distribution of income across individuals and households. ○   Boggle. The World Bank uses the so-called "living standard measurement surveys"[2] to measure income. Antonyms for Low income. Get XML access to fix the meaning of your metadata. For a given distribution the Theil index can be larger than the Hoover index or smaller than the Hoover index: In order to increase the redundancy in the distribution category of a society as a closed system, entropy needs to be exported from the subsystem operating in the that economic category to other subsystems with other entropy categories in the society. Economic theory and economic policy have long seen income and its distribution as a central concern. Income Distribution synonyms. If inequality measures are computed in a well explained and consistent way, they can provide a good tool for quantitative comparisons of inequalities. Of the above indexes, only the Theil index has this property. For the Theil index the relative deviation D per group is weighted with the information size provided by the income per individual in that group. Distribution of wealth and income, the way in which the wealth and income of a nation are divided among its population, or the way in which the wealth and income of the world are divided among nations. By using our services, you agree to our use of cookies. In economics, income distribution covers how a country's total GDP is distributed amongst its population. The authors claim that such efficiency range roughly lies between the values of the Gini coefficients of 25 (the inequality value of a typical Northern European country) and 40 (that of countries such as the USA, France, Germany and the UK). Each square carries a letter. For each group the amount of individuals (or households) per group A and the total income in that group E is specified. Should it include. into quintiles (or any other percentage of population). Similarly, the income inequality metric should not depend on whether an economy has a large or small population. The Good Growth for Cities 2017 report shows Cardiff enjoying aboveaverage growth compared to 41 other UK cities in areas such as jobs, worklife balance and income distribution. The range of the Gini index is between 0 and 1 (0% and 100%), where 0 indicates perfect equality and 1 (100%) indicates maximum inequality. The parameter α in the class represents the weight given to distances between incomes at different parts of the income distribution, and can take any real value. Income distribution has always been a central concern of economic theory and economic policy. The concept of inequality is distinct from that of poverty[1] and fairness[clarification needed]. Figure 1 shows the income distribution for 1997-2002, for both mean income and median income (see the box for a quick brush-up on statistical terms.) However, in the real world, societies are open systems, but the openness is restricted by the entropy exchange capabilities of the interfaces between the society and the environment of that society. For example, in an economy composed of two people, Mr. Smith and Mrs. Jones, where one of them has 60% of the income and the other 40%, the inequality metric should be the same whether it is Mr. Smith or Mrs. Jones who has the 40% share. Distribution occurs when the trading volume of a security is greater than that of the previous day without any price increase. (For the Theil index and the Hoover index no sorting is required.) Considering the inequalities in economically well developed countries, public policy should target an ‘efficient inequality range’. The parameter pairs A and E need to be sorted for the computation of the Gini coefficient. See if you can get into the grid Hall of Fame ! Find more ways to say distribution, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. Top synonyms for distribution of income (other words for distribution of income) are income distribution, revenue sharing and revenue distribution. It behaves like a negative entropy. The metrics will be influenced either upward or downward depending on which unit of measurement is used. Income distribution definition at Dictionary.com, a free online dictionary with pronunciation, synonyms and translation. The accounting profession is similar to other professions where words have many different meanings depending on the context. All rights reserved. Here income inequality measures also can be used to compare the income distributions before and after taxation in order to measure the effects of progressive tax rates. Lettris is a curious tetris-clone game where all the bricks have the same square shape but different content. Contact Us Income definition, revenue received for goods or services, or from other sources, as rents or investments: For years, her only source of income was the small number of stocks her father left her. Compare your income. Another word for income. Definition and synonyms of income from the online English dictionary from Macmillan Education.. 14 synonyms of income from the Merriam-Webster Thesaurus, plus 29 related words, definitions, and antonyms. Because these income inequality metrics are summary statistics that seek to aggregate an entire distribution of incomes into a single index, the information on the measured inequality is reduced. Often expenditure or consumption (which is the same in an economic sense) is used to measure income.

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