Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue

Exercise 17

Distinguish between the functional distribution and personal distribution of income. Which is being referred to in each of the following statements "The combined share of wage income and proprietary income has remained remarkably stable at about 80 percent since the Second World War." "The relative income of the richest households is higher today than in 1970."