Explain how do we measure income inequality

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Reference no: EM1361645

a) The three functions of money are to serve as a medium of exchange, a unit of account, and a store of wealth. Briefly explain each of these functions and give an example of each. What characteristics do we look for in "good" money?

b) Explain how do we measure income inequality? What problems arise the more unequal a country's income distribution becomes? What policies do governments adopt to redistribute income and how do those policies help the country's economic growth?
(Brief answers needed).

Reference no: EM1361645

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