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A: Since you have posted multiple questions as per guidelines we can solve the only first question at a…
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A: The amount required for a basic standard of living.
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A: The provided data set is: 25, 32, 60, 40, 38, 50
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A: Lorenz curve is a graphical portrayal of the conveyance of income or wealth inside a population.
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Q: 6. Official poverty thresholds measure poverty in households consisting of one, two, three, or four…
A: "Since you have asked multiple questions, we will solve the first one for you. If you want any…
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A: The Gini Coefficient is the measures of income inequality in the country.
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A: The Gini coefficient, often known as the Gini index or Gini ratio, is a statistical dispersion…
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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Relate how poverty is measured and its incidence by age, gender, ethnicity, and other…
A: Poverty refers to the situation wherein the individuals lie in a well-being state when they have no…
Q: Discuss the reasons behind economic inequality.
A: Inequality refers to a situation where there is unequal or different distribution of resources or…
Q: A Gini coefficient of 0.15 would indicate that a society’s distribution of income is: A.…
A: The Lorenz Curve is a representation of the distribution of a metric – consumption, wages,…
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A: In an economy, the term poverty is used to explains the income inequality as some of the people are…
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A: Income inequality is a very worst situation for the countries all around the world.It would decrease…
Q: Lorenz curves of two different countries stylistically called ‘red’ and ‘green’.
A:
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- The world in which we live is complex and to understand it, human beings make use of some orother simplification process. A theory can accordingly be seen as an attempt to simplify things.Such an observation may come as a surprise to those who have often heard remarks to the effectthat such and such a theory is difficult, or at the least terribly complicated. We should neverthelessremind ourselves that a theory involves an attempt to simplify things – it is the world out there thatis the complicated entity. A particular theory (or model) is merely trying to reduce it to manageableproportions, at least as far as understanding our environment is concerned.”In economics, theory is presented in a simple form by making the…1.23a) Post hoc assumptionb) Fallacy of compositionc) Ceteris paribus assumptiond) Blinkered approachQuestion 3 The difference between positive and normative economics is best summarized as saying that positive economics is descriptive, while normative economics is prescriptive. O positive economics is pessimistic, while normative economics is optimistic. O positive economics is objective, while normative economics is biased. O positive economics is biased, while normative economics is objective.Positive economics is Oa based only on true statements Ob. similar to normative economics O cobjective and fact based Od. based on opinions A Positive statement Oa is a statement of what is Obsastaterment of what ought to be Oc cannot be tested by checking it against the tacts Od None of these
- 1. What is the need for studying econometrics? What procedures onefollows in econometrics?Economic models are: Precise representations of reality that include as many details as possible in order to accurately predict behavior. Simplifications of reality that focus only on key relationships and ignore less relevant details. General interpretations of cause and effect. d. a. b. с. Analytical interpretations of economic behavior involving a good deal of the surrounding social and political structure of society. Devices that usually make it impossible to isolate the impact of a single factor. е. ces O v1 6:44 8Do economists have any particular expertise atmaking normative arguments? In other words, they haveexpertise at making positive statements (i.e., what willhappen) about some economic policy, for example, butdo they have special expertise to judge whether or notthe policy should be undertaken?
- ents Que The amount of exercise that one gets is an important factor in the determination of his general state of health. This is best described as O an example of marginalism. O a positive statement. O a normative statement. an example of the fallacy of composition.. Which of the following is the discipline that studies the use of statistical tools to estimate economic models? a. Mathematical economics b. Econometrics c. Macroeconomics d. MicroeconomicsHello experts, I have posted this question many times in chegg, but every time people answering this question to use ai tool like chatgpt, please dont use gpt and other ai tool. Question: When we assume that what is true for the part is also true for the whole, we are committing (A) the post hoc fallacy (B) failure to hold other things constant (C) the fallacy of composition (D) normative fallacy Please Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave 37 dislikes for you and more from my friends accounts also.
- Einstein was quoted saying "Everything should be made as simple as possible, but not simpler." When it comes to economic models this means that O models shouldn't be too simple O All of the three other options are correct Omodels should have a level of abstraction appropriate to the topic investigated O models shouldn't be too complexIn what ways is economics a science and why do economists makeassumptions? What is the importance of the circular-flow diagram? On the Forbes 2021 list of the World’s Billionaires, Jeff Bezos ranks at the topwith a net worth of US$177 billion. Does he face scarcity, or does scarcity onlyaffect those with more limited incomes and lower net worth?QUESTION 1 Which of the following is an example of a microeconomic issue? O The government passes legislation that aims to improve the economy. O The unemployment rate is approximately 4%. O Aretailer decides to hire 1,000 new employees in the United States as part of its expansion program O The central bank engages in policy aimed at reducing inflation. QUESTION 2 Suppose a state aims to make it easier for people to purchase school supplies for children by exempting these purchases from sales taxes. Such programs are often called "sales tax holidays." identify which of the following would be considered an unintended consequence of this pollcy. An increase in prices by retailers expecting higher demand during the sales tax holiday. O An increase in purchanes just prior to and immediately following the sales tar holiday. O A large increase in net sales. O Asteep dedine in sales during the sales tax holiday.
