An article in the New York Times observed: “Income inequality is now significantly driven by well-paid college graduates marrying one another, and by poorly paid high school dropouts doing the same.”
a. What term do economists use to describe people at the same educational and income levels marrying each other?
b. How can this process contribute to income inequality?
c. If this process is a major cause of income inequality, what are the likely consequences for government policies intended to reduce income inequality?