Question

Which of the following options are strategies to reduce inequalities?

1) Increase minimum wage to living wage
2) Reducing inequalities with progressive taxation using revenues to provide universal programs/services
3) More unionization in workplaces to set limits on wealth equalities

Answer 1

Strategies to reduce inequalities include increasing the minimum wage, implementing progressive taxation, and encouraging unionization in the workplace. These methods are designed to create a fairer distribution of wealth and resources.

Step-by-step explanation:

The strategies to reduce inequalities include increasing minimum wage to a living wage, reducing inequalities through progressive taxation and using the revenues to provide universal programs/services, and promoting more unionization in workplaces to set limits on wealth inequalities.

These approaches aim to address income inequality, ensuring that resources and opportunities are more evenly distributed. The idea is to correct the imbalances that market forces do not address on their own, such as the need for a decent standard of living and the disparities that can occur when major employers fail or during economic downturns.