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In economics, income distribution covers how a country's total GDP is distributed amongst its population. [1] Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. [2] [3]
The commonly employed system S5 simply makes all modal truths necessary. For example, if p is possible, then it is "necessary" that p is possible. Also, if p is necessary, then it is necessary that p is necessary. Other systems of modal logic have been formulated, in part because S5 does not describe every kind of modality of interest.
What exactly al-Farabi posited on the question of future contingents is contentious. Nicholas Rescher argues that al-Farabi's position is that the truth value of future contingents is already distributed in an "indefinite way", whereas Fritz Zimmerman argues that al-Farabi endorsed Aristotle's solution that the truth value of future contingents has not been distributed yet. [3]
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital). [1] In general theory and in for example the U.S. National Income and Product Accounts , each unit of output corresponds to a unit of income.
One can also say S is a sufficient condition for N (refer again to the third column of the truth table immediately below). If the conditional statement is true, then if S is true, N must be true; whereas if the conditional statement is true and N is true, then S may be true or be false. In common terms, "the truth of S guarantees the truth of N ...
The Lorenz curve is a probability plot (a P–P plot) comparing the distribution of a variable against a hypothetical uniform distribution of that variable. It can usually be represented by a function L ( F ), where F , the cumulative portion of the population, is represented by the horizontal axis, and L , the cumulative portion of the total ...
The x axis of the graph shows the percentiles of the global income distribution. The y axis shows the cumulative growth rate percentage of income. [1] The main conclusion that can be drawn from the graph is that the global top 1% experienced around a 60% increase in income, whereas the income of the global middle increased 70 to 80%.
Income distribution has always been a central concern of economic theory and economic policy. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital.