0.43 0.15 0.3 0.7 Poly Law Ca Population Poted begaly The figure shows a Lorenz curve. If Area A is equal to 0.15 and Area B is equal to 0.35, what is the Gini coefficient? (Answers are rounded to two decimal places) 201
Q: Consider a labour market with 3 types of workers: great workers, normal workers, and perpetually…
A: Labor Market Equilibrium:A state in which the demand for labor (workers) by firms matches the supply…
Q: The food and feed demand curves used in the Application "Summing the Corn Demand Curves," were…
A: To derive the total demand curve, we need to sum the individual food and feed demand curves and…
Q: whose application will be DECLINED?
A: The Canada Pension Plan (CPP) retirement pension is a monthly, taxable benefit that replaces part of…
Q: 8. Consider a general equilibrium model with two commodities. The excess demand functions for the…
A: The eigenvalues of the Jacobian are 1/2 and -2. Since one of the eigenvalues is positive, the model…
Q: Kayla pays $285.17 for a car lease at the beginning of every month for 3 years and 1 months at 3.92%…
A: An annuity is a series of equal periodic payments or receipts made at regular intervals over time.…
Q: In one year in the country of Countem, workers earned $4150, the proprietor’s income was $392,…
A: Standard national income estimates may be used to investigate the elements that influence economic…
Q: A shock to aggregate supply will have different outcomes when there are different assumptions about…
A: One modified version of the Phillips Curve equation is the "expectations-augmented Phillips Curve,"…
Q: two consumers 1&2 U₁(XT) = 40X-T₁ U₂ (X₂₁T₂) = 60√X-T₂ B Monopolist AC-MC=5 } cai (U₂(X) " -Consider…
A: The study and evaluation of corporate financial concerns using abstract economic principles and…
Q: R₁S₁, R₂S2, R3S3 and R4S4 are production possibility curves (PPC) for four different countries 1, 2,…
A: Opportunity cost refers to the value of the next best alternative that must be forgone when a…
Q: Charles is a volunteer fire fighter living in San Diego who works as a caddy to supplement their…
A: When wage rate is $40 per hour, Charles are willing to caddy 1 hours per week. When wage rate…
Q: Using the supply/demand model, illustrate and explain the impact a severe outbreak of the avian flu…
A: Demand refers to the quantity of a goods or service that a person is willing and able to buy at a…
Q: Which statement is true? Group of answer choices If one party is more productive in producing both…
A: Comparative advantage is an economic principle where entities focus on tasks, they perform…
Q: Consider a Variant of the ultimatum game we studied in class in which players have Fairness…
A: IntroductionThe ultimatum game described human unwillingness about injustice. Fairness can be…
Q: In Country X ( population of 100 million), the GDP per capita for the year 2022 was $10,000, and the…
A: The Gross Domestic Product (GDP) is a measure that captures the monetary value of all final goods…
Q: It is assumed that the machine handles a flow rate of 0.5 million gallons per day. The cost of the…
A: The amount of fluid that moves through a system in a given amount of time is known as the flow rate,…
Q: How has deregulation in the telecommunications industry impacted competition and consumer outcomes?
A: Deregulation in the telecommunications industry refers to the removal or reduction of government…
Q: Economical solar energy and energy from fusion have been identified as two of engineering's grand…
A: Low-e windows Cost = $10,500 First-year Annual saving = $2,525Every year's increase in annual…
Q: Marketers from a media website want to nudge their customers to upgrade their free membership to…
A: Open rates are a critical metric in email marketing.It is the percentage of recipients who open an…
Q: [31] Suppose we believe that increases in advertising increase a firm's profit, yet increases in…
A: Since you have posted multiple questions, we will provide the solution only to the first question as…
Q: a. What price and output would prevail if this firm's product was sold by price-taking firms in a…
A: In this question, we delve into the concept of profit maximization within a perfectly competitive…
Q: angladesh has debt to GDP ratio 38.86 percent during 2020.During 2021 the budget components are…
A: The debt-to-GDP ratio is a financial metric that measures the proportion of a country's total debt…
Q: In an economy, the working-age population is 400 million. Of this total, 320.0 million workers are…
A: The labor force participation rate signifies the proportion of the working-age populace actively…
Q: Consider a Bertrand duopoly with homogeneous products and market demand function Q(p): = a-p.…
A: A fundamental concept in game theory, Nash equilibrium denotes a situation in which, given the…
Q: d) On your diagram, illustrate and explain how the wage increase can lead them to have: i. more…
A: In this analysis, we delve into the decision-making process of an individual facing a wage increase.…
Q: What are the major limitations associated with effective fiscal policy? O poor information, the…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Suppose the United States decides to reduce export subsidies on U.S. agricultural products, but it…
A: Exchange rate, net exports, capital flow, government expenditure are all interconnected. Exchange…
Q: Determine the minimum-cost trade-off between the MTBF and the MTTR for a system requiring 0.98…
A: The term minimum cost trade-off refers to finding an optimal balance of various factors in order to…
Q: -3 For the utility function: U = XY05, is there constant, increasing or diminishing marginal utility…
A: To determine the marginal utility with respect to X for the given utility function U=, we need to…
Q: Explain the main structure of a proposal and discuss what kinds of content should be included. What…
A: A proposal is a written document that outlines a plan or an idea and seeks approval, funding, or…
Q: 1. Which events listed below would shift the production possibilities frontier inward? Choose one or…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The economy of Carlsberg is presently in equilibrium, but is suffering a recession as depicted in…
A: Aggregate demand is the total amount of goods and services that all sectors of an economy are…
Q: In this week’s discussion we focus on market competition and the power of firms to set prices. (a)…
A: Since you have posted multiple questions, we will provide the solution only to the first question as…
Q: Consider an economy with a corn producer, some consumers, and a government. In a given year, the…
A: The value of output less the value of goods and services utilised to produce these outputs…
Q: A firm based in Mexico has found that its growth is restricted by the limited liquidity of the…
A: A capital market is a financial market where long-term obligation or value upheld protections are…
Q: Since each country's real GDP is measured in a different currency, before one can compare the real…
A: Real GDP is a measure of the economy that is used to describe the output of a nation over a given…
Q: Find the present worth in year 0 for the cash flows shown. Let/- 10% per year. O 170 $170 $130 $150…
A: Here,Given:To Find:The present worth in year 0
Q: Find the cost function for the marginal cost function. 30 e0.05x F'(x)= +800; 4 units cost $1900.…
A: A mathematical function that depicts the relationship between the factor inputs of a production unit…
Q: The following graph shows the market for pizzas in Miami, where there are over 1,000 pizza…
A: Supply refers to the quantity of goods, products, or services that producers, manufacturers, or…
Q: . LoTech Welding can purchase a machine for $175,000 and depreciate it as 5-year MACRS property.…
A: Annual cost of a firm is the capital budgeting measure to understand the potential of investment…
Q: The graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut. a. Draw the…
A: Total revenue determines the amount earned from the quantity produced.Economic costs involve not…
Q: Health care expenditures coming directly out of consumers' pockets, primarily in the form of…
A: Healthcare expenditures refer to the total amount of money spent on healthcare-related services and…
Q: 19. Do banks earn interest on the reserves that they hold? A. Banks earn 0% interest on the reserves…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 10. Jack and Jill work together at an IT company. They are asked to write a new piece of code to fix…
A: Opportunity cost refers to the potential value or benefits that are forgone when a decision is made…
Q: 5. Discuss why the marginal cost curve (MC) has the following shape: 27 22.40 Costs 16 14 3 3…
A: Marginal cost (MC) is a fundamental economic concept that represents the additional cost incurred by…
Q: The South African Banking sector is currently made up of 63 banks distributed as follows: 29 foreign…
A: Competitive, in the context of economics, describes a situation or environment characterized by…
Q: Show the validity of Gibrat’s law, using both CR8 and HHI indices after 2 periods.
A: Gibrat's Law, also known as the Law of Proportionate Effect, suggests that the growth rate of a firm…
Q: our group forms part of a National Treasury task group that has been formed to perform a financial…
A: Financial feasibility is the degree to which a undertaking or investment is financially feasible and…
Q: A company plans to expand its business with a new investment of 1,200 million. With an estimated…
A: First Cost = 1200 million Annual revenue = 400 millionGradient of revenue = -15 million Annual…
Q: 11. A 20-year bond has a face value of $1000 and annual coupon rate of 12%. Currently the bond price…
A: To calculate the bond's yield to maturity (YTM), we need to find the interest rate that makes the…
Q: Detail two cognitive biases , what are own examples of these biases. How do these rules of thumb…
A: The two cognitive biases are :Anchoring bias andConfirmation biasAnchoring bias is the tendency to…
Step by step
Solved in 3 steps with 2 images
- The graph shows the Lorenz curve for income. In the graph, the second poorest 20 percent of households earn the income certesa OA. 20 B. 5 OC. 9 OD. 14 Click to select your answer Forencio Gasto eatment D KIDEES AUNT DONT CALL HERI WILL TEXT HER AND FIND OUT 18 App XX percent of 18 Appl 100- ASUS 90- 80+ 70- 60- 50- 40- 30- 20- 10+ Tamhner, Rasha Pel Other a Rejane D Stretchmans DI2 HBL) 32-428 10650 Cumulative percentage of income Cumulative percentage of households doA5 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 equalwheTSummarize what has happened tothe incidence of poverty since 1960, anddetermine when and why the greatestprogress was made in reducing poverty (InCome Differences) List some reasons why householdincomes differ. Which factors are the mostimportant?
- Brining the income of those living on less than $1.25/day up to the minimal poverty line would require % of the income from the worlds wealthiest 10%. 02 03 01 05A group 0f 10 people have the following annual incomes: 24,000,18,000,50,000,100,000,12,000,36,000,80,000,10,000,24,000,16,000. Calculate the share of total income that each quintile receives from this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution?Table 15.9 shows the share of income going to each quintile of the income distribution for the United Kingdom in 1979 and 1991. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. How did inequality in the United Kingdom shift over this time period? How can you see the patterns in the quintiles in the Lorenz curves?
- What is measured on the two axes of a Lorenz curve?Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage labor market, explain how a program that increased educational levels for a substantial number of low-skill workers could reduce inflame inequality.Suppose there is an economy where 80 percent ofpeople earn more than their parents and 40 percentend up in a different income quintile than theirparents. What measure of the income distributiondoes the first statistic tell you about? What aboutthe second?
- 6. omi Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Chack my Quintile of 1st Population Quintile's % of Income, Croatia, 2000 2nd 3rd 4th 5th 8 13 17 22 40 Quintile's % of Income, Croatia, 2010 14 18 22 37 es Quintile's % of Income, United States, 2010 5 10 14 20 51 United States data from the Congresslonal Budget Office at CBO.gov. Before-tax Income, rounded to whole %s. Data for other countries from WorldBank.org, rounded to whole %s. Report your answers to two decimal places. According to these data, the Gini coefficient for Croatia in 2000 is. 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?The data in the table below shows the income of some random people in Massachusetts. If these were the only people in Massachusetts what is the average (absolute) difference in income among all the pairs? nаme Pre-tax income Mayor Wu $20 Tom Brady $120 Matt Damon $60 QUESTION 12 (continued) What is the Gini coefficient for Massachusetts?