Table 20-3 The Distribution of Income in Edgerton Group Bottom Quintile Second Quintile Middle Quintile Fourth Quintile Top Quintile Annual Family Income $28,000 and below $28,000-$43,999 $44,000-$75,999 $76,000-$87,999 $88,000 and above Refer to Table 20-3. Where would the government in Edgerton set the poverty line to have a poverty rate of 40 p O a. $76,000 b.$28,000 OC. $88,000 O d.$44,000

Table 20-3 The Distribution of Income in Edgerton Group Bottom Quintile Second Quintile Middle Quintile Fourth Quintile Top Quintile Annual Family Income $28,000 and below $28,000-$43,999 $44,000-$75,999 $76,000-$87,999 $88,000 and above Refer to Table 20-3. Where would the government in Edgerton set the poverty line to have a poverty rate of 40 p O a. $76,000 b.$28,000 OC. $88,000 O d.$44,000

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 36CTQ: Explain how a country may experience greater equality in the distribution of income, yet still...

See similar textbooks

Similar questions

The social security tax is 6.2 on employees income earned below 113,000. Is this tax progressive, regressive or proportional?
Explain how a country may experience greater equality in the distribution of income, yet still experience high rates of poverty. Hint: Look at the Clear It Up 'How do governments measure poverty in low-income countries?' and compare to Table 15.5.
Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage labor market, explain how information technology can increase income inequality if it is a complement to high-income workers like salespeople and managers, but a substitute for low-come workers like file clerks and telephone receptionists.
Here is a second hypothesis: A well-funded social safety net may lead to less regulation of the market economy. Explain why this might be so, and sketch a production possibility curve that shows this tradeoff.
A5 South Africa's top 10% of earners contribute almost half of all revenue, and the richest 10% of its residents holds 85.6% of net wealth, according to the OECD, which sees scope for the tax system to be used more to reduce inequality. Based on the above paragraph, which of the following statements is INCORREC A. South African 's bottom 90%of income earners contribute allof to the revenu B. South Africa's income inequality levels are very hig C. South Africa' s income inequality levels are very lo D. South Africa's income contribution is equalwheT
A challenger presidential candidate vows to cutentitlement spending by 20 percent in the first fewweeks that he is in office. Why is it unlikely thecandidate could achieve this reduction?
3 of 1 estion s page What does the Canadian poverty rate measure? O a. the number of people whose annual household income is less than $17 568 the number of people whose annual household income is less than $21 728 the percentage of people whose income falls below an identified income standard the percentage of government expenditures allocated to antipoverty programs O b. О с. O d.
. Consider two communities. In one community,ten families have incomes of $100,000 each and tenfamilies have incomes of $20,000 each. In the othercommunity, ten families have incomes of $250,000each and ten families have incomes of $25,000 each.a. In which community is the distribution of incomemore unequal? In which community is theproblem of poverty likely to be worse?b. Which distribution of income would Rawls prefer?Explain.c. Which distribution of income do you prefer?Explain.d. Why might someone have the oppositepreference?
← → X VD C Calculate the income tax for a single person who has $81,396 of taxable income using the table below which shows the tax brackets for 2016 for single workers. TODE EQ Taxable Income $0 to $9,375 $9,376 to $37,550 $37,551 to $90,850 $90,851 to $189,500 $189,501 to $411,650 $411,651 to $414,500 $414,501 or more Answer to the nearest penny. Tax Rate 12% of amount over $0 $945 plus 16% of the amount over $9,375 $5,278 plus 26% of the amount over $37,550 $18,526 plus 29% of the amount over $90,850 $46,592 plus 34% of the amount over $189,500 $119,622 plus 36% of the amount over $411,650 $120,135 plus 40.2% of the amount over $414,500 hp
17. Which of the following statements applies to the Social Security program? A. Benefits are paid on the basis of needB. It provides cash assistance and services to families with dependent childrenC. It is financed by payroll taxes on employees and employersD. Benefit levels vary throughout the nation because the system is administered by the individual states
IM R %24 How does progressive taxation and redistribution policies affect the Lorenz curve and Gini coefficient? O The Lorenz curve becomes less curved and the Gini coefficient increases. O The Lorenz curve becomes less curved and the Gini coefficient decreases. O The Lorenz curve becomes more curved and the Gini coefficient increases. O The Lorenz curve becomes more curved and the Gini coefficient decreases. 10:44 PM earch 13 12/12/2021 ins prt sc f12 delete 114 144 Po backspace lock 4. 7. home enter 7. 4. K. pause 1 shift ctrl
Abraham. Income level $10,000 $50,000 $100,000 Refer to the table above. Abraham faces a a) progressive Ob) proportional Oc) regressive $5,000 $10,000 $15,000 Taxes Paid Brenda $1,000 $5,000 $10,000 tax system. Caitlyn $1,000 $10,000 $30,000