In the financial crisis of 2008, the stock market lost more than $7 trillion in value, and
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In the financial crisis of 2008, the stock market lost more than $7 trillion in value, and large numbers of very highly paid workers in the financial services industry lost their jobs. Corporate profits fell as the recession proceeded, and because corporate profits are used to pay dividends, these decreased as well. The richest 1 percent of the population own about 36.7 percent of the stocks, estimates New York University economist Edward Wolff.
Given the consequences of the financial crisis and recession on higher income groups, do you think the Lorenz curve became more or less bowed outward?
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