Editing Income (section)

==Income inequality==
[[Income inequality]] is the extent to which income is distributed in an uneven manner. It can be measured by various methods, including the [[Lorenz curve]] and the [[Gini coefficient]]. Many economists argue that certain amounts of inequality are necessary and desirable but that excessive inequality leads to efficiency problems and social injustice.<ref name="Barr"/> Thereby necessitating initiatives like the United Nations [[Sustainable Development Goal 10]] aimed at reducing inequality.<ref>{{Cite web|title=Goal 10 targets|url=https://www.undp.org/content/undp/en/home/sustainable-development-goals/goal-10-reduced-inequalities/targets.html|access-date=2020-09-23|website=UNDP|language=en|archive-date=2020-11-27|archive-url=https://web.archive.org/web/20201127140337/https://www.undp.org/content/undp/en/home/sustainable-development-goals/goal-10-reduced-inequalities/targets.html|url-status=dead}}</ref>

=== National Income ===
National income, measured by statistics such as [[net national income]] (NNI), measures the total income of individuals, corporations, and government in the economy.  For more information see [[Measures of national income and output]].

The total output of an economy equals its total income. From this viewpoint, GDP can be an indicator and measurement of national income since it measures a nation’s total production of goods and services produced within the borders of one country and its total income simultaneously. GDP is measured through factors of production (inputs) and the production function (the ability to turn inputs into outputs). One important note in this is [[income distribution]] working through the factor market and how national income is divided among these factors.  For this examination, the Neoclassical theory of distribution and factor prices is the modern theory to look into.<ref>{{Cite book |last=MANKIW |first=N. GREGORY |title=MACROECONOMICS |date=22 May 2015 |isbn=978-1-4641-8289-1 |edition=9th |pages=47–80|publisher=Macmillan Learning }}</ref>