Economics Income Inequality Questions
Income mobility refers to the ability of individuals or households to move up or down the income ladder over time. It measures the extent to which individuals can improve their economic status and move to higher income brackets or experience downward mobility and move to lower income brackets. Income mobility is influenced by various factors such as education, skills, job opportunities, social mobility, and economic policies. It is an important aspect to consider when analyzing income inequality as it provides insights into the dynamics of economic mobility within a society.