In the United States, the richest quintile of the population receives 13 times as much income as
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In the United States, the richest quintile of the population receives 13 times as much income as the poorest quintile. However, the richest quintile only spends four times as much as the poorest quintile. What are some of the reasons that there is such a stark difference between income inequality and consumption inequality?
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The stark difference between income inequality and consumption inequality in the United States can be attributed to several factors that affect how income is distributed and how individuals and househ...View the full answer
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