Q: If government programs to assist the poor are successful at equalizing the income distribution, then…
A: Both Lorenz curve and Gini coefficient are measures of income inequality. They show income or wealth…
Q: Indicate whether each statement is true or false, and justify your answer.If members of a society…
A: Individuals have their personal goals and they can set their transitive preferences as per their own…
Q: Which of the following theories holds that multiple leadership variables determine the probability…
A: Leadership joined by the executives sets another course and utilizes assets to accomplish it.
Q: Some economists maintain that the returns to additional years of education is actually quite small…
A: The sheepskin effect is a phenomenon where the person with an academic degree or diploma gets higher…
Q: How the 3'S of opportunity spotting applied or useful to you? How is the focus group discussion…
A: In the simplest terms, business development is also summarized because the concepts, initiatives,…
Q: Differences in age among a population over time can lead to differences in the distribution of…
A: The distribution of income among the population is done on the basis of ratio of GDP by the…
Q: What is the SIGNIFICANCE OF STUDY of "The Impact of the Pandemic on Cost of Living between Different…
A: Due to company delays and shutdowns caused by social-distancing measures, the COVID-19 epidemic has…
Q: What is correspondence analysis?
A: Correspondence analysis is a statistical tool for the qualitative data analysis which was initially…
Q: Q.4 Graphically illustrate Compensating vaniation and equivalent variations.
A: Compensating variation (CV) is the adjustment in income which returns the consumer to original…
Q: The cust for long lerm care is increasing because the population is gelling less mobile the…
A: Health is most important factor in capital formation because a good health is the Indicator of…
Q: Which theory explains the effect of health on income? Direct income theory Efficient producer…
A: Income is a reward that labor earns for supplying their services. The labor will receive an income…
Q: Define Gini coefficient?
A: A Gini coefficient can be understood as a tool that helps to measure the distribution of income…
Q: In the figure shown below, which of the following is true? PERSON is married to
A: According to the law, a person can marry more than one person, but that person can only be married…
Q: Explain the concept “underemployed”, and give an example to support your answer
A: Unemployed means when a persona relatively high skills and well educated but works in a relatively…
Q: Name three products for which subjectivediscretionary income might be a better predictor…
A: Discretionary income of the consumer is that part of total income which is left after the paying for…
Q: Define the term Gini coefficient?
A: The income inequality depicts that how many people lies below the average level of income and how…
Q: Explain he differences between the Ohlin and Leontif theory on factor abundance
A: Business varies from country to country and can be of many types. For example in construction…
Q: How to test the presence of multicollinearity.
A: Multicollinearity refers to the violations of the assumptions of CLRM in which there is a…
Q: Find the Gini index for the given Lorenz curve. L(x) = 0.7x + 0.3x2
A: Gini index for the Lorenz curve can be calculated as follows:
Q: Giving money to poor family members as help is an example of:
A: Meaning of Social Welfare: The term social welfare refers to the situation under which the…
Q: b) households
A: In the loanable market the amount of loan and interest rate is decided by in the intersection of…
Q: Calculate the headcount ratio and interpret the value. Calculate the total income gap and interpret…
A: 1. Head Count Ratio = (number of people living below poverty line/Total population) ×100…
Q: The Sherbert Test states that in order for a law to be allowed to limit or burden a religious…
A: Answer: TRUE
Q: Which of the following most increased our understanding about the heritability of personality?…
A: The answer is - 1.research on identical twins raised apart
Q: Is deprivation a relative measure?
A: Deprivation can be both absolute and relative deprivation.
Q: Explain the wealth conversion principle.
A: In an economy, wealth refers to the total asset of an individual or a firm that include all the…
Q: In 1999, 4,860 TANF recipients were asked how many hours they worked in the previous week. In 2000,…
A: Employment rates are defined as the rate being used as a measure of the extent to which available…
Q: Explain how the method of instrumental variables can be used to estimate the compensating…
A: Instrumental variables help in remove the endogeneity being caused by potential correlation between…
Q: Define information asymmetry and explain why it matters for economicdecision making
A: It is a condition where people have imperfect knowledge. It occurs where one party has had different…
Q: discuss the key concepts of the Heckscher-Ohlin Model on factor intensity
A: The Heckscher-Ohlin model, often known as the H-O model or the 2X2X2 model, is an international…
Q: Find real desposabal income
A: GDP = C + I + G + (X-M) here we take gross investment = Net investment + depreciation…
Q: How do we calculate the value of a statistical life?
A: The value of a statistical life refers to the rate at which individuals trade money in return for…
Q: One leading theory about why the poor are in worse health than the rich is that the rich enjoy a…
A: Allostatic load refers to the wear and tear of the body.
Q: Explain the similarities and differences between the assumptions of Specific Factor Theory and the…
A: The Specific Factor model is intended to show the consequences of trade in an economy where one…
Q: The top 1 percent of American households hold one-third of the total wealth. T or F?
A: Money is important for individuals. There are different requirements of money. Money has been…
Q: The age structure in a country does not necessarily reflect its burden of dependency. S2: In the…
A: C. False, True
Q: sychological Empowerment is also known as ?
A: Empowerment is defined as an individual's ability to exercise autonomy, choice, accountability, and…
Q: What have the effects on employment been for men and women during the pandemic in Canada? What are…
A: The COVID-19 epidemic has wreaked havoc on society and workplaces all across the world. The labor…
Q: Which of the following results from a process in which the individual can only influence the…
A: Health is a finished condition of physical, mental, social and otherworldly prosperity not simply…
Q: Summarize the five most commonly used demographic variables.
A: Demographic analysis is that the study of a population supported factors like age, race, and sex.…
Q: Show how education can signal the worker’s innate ability in the labor market. What is a pooled…
A: The schooling model is based on the idea that education increases earnings because it increases…
Q: If members of a society have transitive preferences, then that society as a whole must also have…
A: if members of a society have transitive preferences then that society as a whole must also have…
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- Sean is arguing with his girlfriend, Yvette. They have been going out for a little more than two years. YVETTE: I'm leaving you, Sean. Get over it. SEAN: Are you saying that being single will make you happier than you've been with me? Speaking personally, I think the utility we've had in this relationship was much more than you could have had if you'd been single this whole time! YVETTE: I had taken an economics class and the word "utility" rings a bell. It's not that at all. We've had a fine time. It's that the utility I would get by continuing our relationship isn't worth it anymore. SEAN: I've never been dumped by someone citing the law of before. You're a piece of work, you know that? Yvette doesn't hear. She has already walked off, leaving Sean feeling like something of a sunk cost.PLEASE ANSWER INTUITIVELYT/F Utility is a subjective concept.
- like to be perceived. This underlying psychological force is what often spurs a person to fill this perceived gap (i.e., between where I am and where I want to be) through a purchase. The underlying force driving the individual to fill the gap is also referred to as the individual's:A company has a dental plan for its employees. According to behavioral economics, the participation rate will be about the same wether people are given en easy enrollment form to fill out or are enrolled automatically but given en easy opt-out form to complete if they don’t want to participateExplain the difference between a utility function and correspondence
- Suppose you are designing an intervention to increase daily physical activity among adults. Describe how you would draw on concepts from behavioral economics to design the intervention.Don't give irrelA recent trend in health insurance is the Health Savings Account (HSA). The idea behind Health Savings Accounts is that rather than providing employees with health insurance that makes visiting doctors cost little more than a simple $10 or $20 copay the employer gives the employee money to use to spend on health care, but the employee bares the entire cost of seeing the doctor. What money given for health care not spent by the employee can be withdrawn by the employee as if it was additional income. It is believed that Health Savings Accounts will reduce the total amount of money spent on seeing doctors. Using Supply and Demand analysis, explain why there is the expectation that HSA’s will reduce spending on doctors.