Q: 3) True or False questions: a) Two countries can have the same level of GDP and population size, but…
A: When comparing two or more economies, various economic measures are used to analyze the economic…
Q: Consider five individuals, of whom three have zero income and two have $10,000 each. Based on Gini's…
A: There are 2 groups of people Group 1 consist 3 people with income 0 each person Group 2 consists 2…
Q: Discuss five (5) NON-ECONOMIC REASONS why poverty is still a problem to contend with in Philippine…
A: Meaning of Poverty or Scarcity: The term scarcity or poverty refers to the situation under which…
Q: 10. Consider the following distribution of income in a 12-person economy, with the modern urban wage…
A: We know that GNP is known as the gross national product. It includes the net factor income earned…
Q: Economic inequality arises from all of the following except O A. a shortage of high-skilled labor B.…
A: Economic inequality is the unequal distribution or discrimination among various groups of society.…
Q: Which TWO of the following are most likely to be associated with an increase in the incidence of…
A: In an economy, when there is an increase in poverty, it implies higher inequality in income…
Q: --- percentage of population in second quintile: % What percentage of the total income for the…
A: * ANSWER :- Here the total population is divided into 5 quintiles. 0 - 20% - First quintile 20 -…
Q: Define the term “POVERTY”. What are the determinants of poverty?
A: Poverty is a state in which the individuals are not able to satisfy even the basic requirements of…
Q: If the poverty guideline for a family of four is $25,750, what is the most that a household can earn…
A: With poverty guideline for a family of four is 25750 $, any income marginally above the poverty…
Q: The passage of TANF has resulted in which of the following? O a reduction in single parent…
A: TANF: TANF represents Temporary Assistance for Needy Families. The TANF program, which is…
Q: What is the relationship between a Lorenz curve and a Gini coefficient? Give some examples of how…
A: The Lorenz curve is a representation of the distribution of a metric – consumption, wages,…
Q: 2. The Lorenz curve measures inequality in person income distribution. What is the difference…
A: Lorenz curve is used to depict the distribution of income amongst the recipients in the form of a…
Q: As income transfer programs accompanying the War on Poverty increased beginning in the latter half…
A: Income move programs point towards reallocation and moving of abundance and income through the…
Q: How is absolute poverty measured, in comparison to the distribution of national income?
A: Hi. Since there are multiple questions, we will solve only the first one. Absolute poverty is…
Q: b) Suppose one person in a population owns all the income and everyone else has none. Write down the…
A: A Lorenz curve is a graphical representation of the distribution of income or wealth within a…
Q: 6. Which of the following classifications does not fall under underemployment? A. Highly skilled but…
A: we will solve first question for you. If you want any specific question to be solved then please…
Q: Explain three methods of measuring the income inequality of a nation?
A: Economic inequality is how wealth is spread inefficiently through a society. There are many…
Q: "Growth and improvement in inequality are important to alleviate poverty.' a. Examine any FOUR (4)…
A: There has been a great history of evidences which connects and establishes a strong relation between…
Q: The quintile distribution of per capita income for 2012 and 2014 are as follows: Quintile Shares 2 3…
A: 2) b) The quintiles show the distribution of per capita income based on 20% brackets i.e. the first…
Q: In season three of the TV show “The West Wing,”the federal government considers redefining…
A: Poverty is an economic issue that prevails in almost every country wherein the people are considered…
Q: Table 20-3 The Distribution of Income in Edgerton Group Bottom Quintile Second Quintile Middle…
A: The poverty threshold, poverty limit, poverty line or breadline is the base degree of pay considered…
Q: Indicators of income inequality and poverty Country Gini coefficient Ratio of income at Poverty…
A: The "Gini coefficient," which is directly linked to the Lorenz curve, is the most commonly used…
Q: Canada had the following distribution of Income after taxes in 2006 Based on the information in the…
A: Gini Coefficient is a widely used measure for income inequality in the countries . Gini Coefficient…
Q: . Consider two communities. In one community,ten families have incomes of $100,000 each and…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: The Gini coefficient for the nation with Lorenz curve of income distribution f(x) = 0.2x +0.3x2+0.5x…
A: Gini coefficient shows the degree of inequality in the distribution of income or wealth. It is used…
Q: QUESTION 43 The Gini coefficient can be approximated from the Lorenz curve by the g=A/(A+B), where A…
A: * SOLUTION :-
Q: (a) (4 pts) Find the Gini coefficient of income inequality for the nation with income distribution…
A: The Gini coefficient once in a while called the Gini list or Gini ratio is a proportion of factual…
Q: The FGT0 measure does not reflect the depth of poverty below the poverty line. [6] (i) Suggest a…
A: The FGT indices or the Foster–Greer–Thorbecke indices are a group of indices used to measure…
Q: 1. When Lorenz curves are __________. a. more curved the greater is the degree of income inequality…
A: The Lorenz curve is the graphical representation of the inequality in the economy. The graph…
Q: 1. Income inequality and the poverty rate The following table summarizes the income distribution for…
A: At a microeconomic level, inequality increments weakness and well-being spending and decreases the…
Q: Which of the following interventions will address the concern on poverty and unequal distribution of…
A: In an economy, poverty and unequal income distribution occurs when people at a specific place have…
Q: 4. Currently, the poverty threshold for a family of four is just over $25,000 a year. Among the…
A: The poverty threshold refers to the minimum level of income an individual or a family needs to…
Q: 3. Assume there are two countries, country A has an income distribution(2,5,7,10) and country B has…
A: In economics, the Lorenz curve is a graphical depiction of income or wealth difference. Max Lorenz,…
Q: Questions Explain three methods of measuring the income inequality of a nation? 1.kuznet ratio 2.…
A: Income inequality refer to the uneven distribution of the income generated in the economy during a…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Income inequalities exist in the U.S. What are some policy tools the government could use to try and equalize incomes between wealthier households and poorer households? Describe two policies. Have these policies been successful in the past? Why or why not ?The Economics of the Welfare State — End of Chapter Problem Median incomeMean incomeYear(in 2018 dollars)1972$40,102$46,481201841,61561,180 The accompanying table presents data from the U.S. Census Bureau on median and mean income of male workers for the years 1972 and 2018. The income figures are adjusted to eliminate the effect of inflation. a. By what percentage has median income changed over this period? By what percentage has mean income changed over this period? Round answers to one place after the decimal when necessary. Median income changed by _________%. Mean income changed by _______%. b. Between 1972 and 2018, has the income distribution become less or more unequal? Explain. Since median income has risen slightly, but mean income has grown significantly, this means that most of the growth in incomes has been (at the top OR at the bottom OR evenly distributed) the income distribution. Thus, the income distribution has become more (equal OR unequal) from 1972 to 2018.Question 15 Which of the below statements is INCORRECT with regard to poverty in the U.S.? The poverty threshold was created my Mollie Orshansky of the Social Security Administration, in the 1960s. The "poverty threshold," "poverty guidelines" and "poverty line" are identical numbers and are all used for exactly the same purpose. For the year 2021, a single individual making less than $12,880 in any of the 48 contiguous states, falls below the poverty line. For the year 2021, a four person family making less that $29,200 a year in any of the 48 contiguous states, falls below the poverty line.
- The table shows the distribution of personal income in the United States in 2016. Percentage of total income Households Poorest 20 percent 3.1 Second 20 percent Third 20 percent Fourth 20 percent Richest 20 percent 8.2 14.3 23.2 51.2 For all U.S. households to receive an equal share of income, what percentage of total income would the poorest 20 percent of households have to receive from higher-income groups? What percentage would the second poorest have to receive? >>> Answer to 1 decimal place. The poorest 20 percent of households would have to receive percent. The second poorest 20 percent of households have to receive percent.This indicator calculates the proportion of the population with incomes below the estimated poverty line: Select one: a. Head Count Ratio b. Income Gap Ratio c. Human Poverty Index d. Human Development Index1. Income inequality and the poverty rate The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2007, the poverty line is set at an annual income of $42,350 for an individual. Year Lowest Quintile Second Quintile 2001 2007 2013 2019 3.0 3.4 3.8 5.0 Share of Total Income in Perkopia (Percent) 8.6 9.4 9.7 11.0 The data in the table suggest that there was Middle Quintile Fourth Quintile 14.0 14.6 15.2 15.5 21.9 22.4 22.9 25.0 Highest Quintile 52.5 50.2 48.4 43.5 income inequality from 2001 to 2019. MacBook Pro Complete the following table to help you determine the poverty rate in Perkopia in 2007. To do this, begin by determining the total income of all individuals in each quintile using the fact that total annual income in the economy is $500,000,000. Next, determine the income of an…
- The figure shows the distribution of pre-tax income for Canadian families in 2015. Distribution of Family Income, 2015 60- Which of the following best describes the distribution of pre-tax earnings? 50- A. Just over 40 percent of families earned less than $40,000 while just over 20 percent of families earned more than $100,000. 41.8% 40- 38.4% B. Nearly 40 percent of families earned less than $40,000 while just under 20 percent of families earned more than $100,000. O C. Just over 20 percent of families earned less than $40,000 while just over 40 percent of families earned more than $100,000. 30- 19.8% O D. Nearly 20 percent of families earned less than $40,000 while just under 40 percent of families earned more than $100,000. 20- 10- $40K to $100K Pre-tax Family Income < $40K $100K and over Percentage of FamiliesDescribe the concept poverty line in detailWhat are the gross incomes?
- Define the term “POVERTY”. What are the determinants of poverty? 3-5 PARAGRAPHS NO PLAGIARISMHow do Economists define Poverty? 1. Economist define the concept of poverty as an economic state where an individual or household level of income is below a level of annual income necessary to provide a minimum or basic standard of living. 2. The poverty rate is directly related to how income is distributed within a society. Per capita income in 2015 and 2016 is estimated at $56,850 and $62,606, respectively. 3. A minimum standard of living refers to the ability of an individual to acquire food, clothing and housing at an adequate level to avoid economic distress. 4. The U.S. government economists evaluate the cost to individuals and households to acquire food, clothing, and housing to maintain a minimum healthy lifestyle. 5. The bench market for the income level necessary to maintain a basic standard of living is based on USDA Research that uses a baseline cost estimate associated with maintaining a healthy diet of 1800 to 2300 calories per day. * YouTube Q [) 5:09 / 5:37 CC Which…How do Economists define Poverty? 1. Economist define the concept of poverty as an economic state where an individual or household level of income is below a level of annual income necessary to provide a minimum or basic standard of living. 2. The poverty rate is directly related to how income is distributed within a society. Per capita income in 2015 and 2016 is estimated at $56,850 and $62,606, respectively. 3. A minimum standard of living refers to the ability of an individual to acquire food, clothing and housing at an adequate level to avoid economic distress. 4. The U.S. government economists evaluate the cost to individuals and households to acquire food, clothing, and housing to maintain a minimum healthy lifestyle. 5. The bench market for the income level necessary to maintain a basic standard of living is based on USDA Research that uses a baseline cost estimate associated with maintaining a healthy diet of 1800 to 2300 calories per day. 5:09 / 5:37 YouTube Q CC Which…