Question 7 (Max 200 words, 5 marks] Figure A illustrates the trends in global and between-country income inequality measured by the Gini coefficient between 1945 and 2015. Recall that the between-country income inequality below is calculated based on the assumption that everyone in a nation makes the nation-wide average income. Figure B shows the share of income received by the top 1% in six countries between 1910 and 2015. Figure A Figure B Global inequality. inequality among all individuals in the world 0.75 1929 Start of Great Depression 1918 1945 End of WWI End of WWII 1973 End of golden age of capitalism 2008 Start of global financial crisis 30 Inequality between countries (hypothetical) 25 0.50 20 Inequality (Gini coefficient) Income share of the top 1% (%) US South Africa Argentina UK China India 15 15 0.25 10 5 0 0 0167 1915 1920- 1925 0E6T SEGT 1940 1945- 1950- 1955 1960 1965 O260 1975 1980 1985 0661 1995 0002 2005 STOZ Year 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 Year Address the following: Briefly describe the overall trend since 1980 shown in Figure B. Explain how the overall trend since 1980 in Figure B (which you just described) is shown in Figure A. Question 8 [Max 200 words, 5 marks] Figure C below shows the projected job growth between 2014 and 2024 for occupation groups of different wages. Figure C Top quintile (above $66,790) Second quintile (below 566,790 and above 544,040) Third quintile (below 544,040 and above $33,280) Fourth quintile (below $33,280 and above $26,380) Fifth quintile (below 526,380) 1,000 2,000 3,000 Total projected job growth 201424 (thousands of employees) Discuss how Figure Cis related to the overall trend in inequality since 1980 in Figure B (which you Quintiles of employment in 2014: occupations with mean annual wage