A wealth gap is an economic difference between:

• A. the levels of government spending and taxation
• B. individuals or groups in terms of their accumulated assets and net worth
• C. the prices of goods and services in different markets
• D. the rates of inflation across various countries

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the concept of a wealth gap. It refers to the economic disparity between individuals or groups based on their accumulated assets and net worth, not government policies or market prices.
2. Step 2: Recognize that government spending and taxation relate to fiscal policy, which affects the economy broadly but is not the definition of a wealth gap.
3. Step 3: Identify that prices of goods and services in different markets pertain to price differences or market variations, which are unrelated to wealth distribution.
4. Step 4: Note that rates of inflation across countries describe changes in price levels internationally, which again do not define wealth gaps.
5. Step 5: Conclude that the wealth gap specifically measures the difference in accumulated assets and net worth among individuals or groups, highlighting economic inequality.