Sala-i-Martin interpolates income distribution by ?
Correct answer: C. simulation
- A. quientiles
- B. percentiles
- C. simulation
- D. relative ratio measures
Explanation
Sala-i-Martin estimated the global income distribution by constructing and simulating distributions from available national income data, especially where complete distribution data were missing. The method was therefore simulation rather than a simple count of quintiles or percentiles.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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