14 Q A 8 9 40 20- In the figure above, the nation with the highest average income is nation OA) A @ 2 0 20 40 60 80 100 Cumulative percentage of households Occ. D) The average income is the same in all three nations because their Lorenz curves can be plotted on the same diagram. W B) B. S # 3 80 n E D 54 $ 4 188 F4 R 20 H F 5 62 T G ‹6 TV Y stv & 7 H 80 FT U .00 8 J DHE 9 K

14 Q A 8 9 40 20- In the figure above, the nation with the highest average income is nation OA) A @ 2 0 20 40 60 80 100 Cumulative percentage of households Occ. D) The average income is the same in all three nations because their Lorenz curves can be plotted on the same diagram. W B) B. S # 3 80 n E D 54 $ 4 188 F4 R 20 H F 5 62 T G ‹6 TV Y stv & 7 H 80 FT U .00 8 J DHE 9 K

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 6SCQ: A group 0f 10 people have the following annual incomes:...

See similar textbooks

Similar questions

A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to overall utility in the…
QUESTION 15 Suppose that if the null that alpha and beta both equal one is true a tost statistic you have calculated s dnitributed as an Fstatistic with 3 and 30 degroes of freedom for the numerator and denominator respectivoly What critical value cuts off 5% of the upper tal of this disitritution? OA.5.168 O B.9 277 OC8617 O D. None of the above
A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to the overall utility of the…
Qn 1. According to the News Wire “Inequality,” what is the average per capita income innations where the highest-income decile gets (a) over 45 percent of totalincome? (b) less than 30 percent of total income?
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 the following table with individuals in a country and their incomes: Individuals Income 1 15 30 4 45 55 6 70 7 85 8. 100 115 10 130 Total 650 O The ratio of income received by the top decile to the bottom quintile is 3.5. O The ratio of income received by the top decile to the bottom quintile is 7.3. O The ratio of income received by the top decile to the bottom quintile is 4.3. O The ratio of income received by the top decile to the bottom quintile is 6.5.
answer only 3 and 4 pls illustrate
2. Draw a complete and dearly labeled Lorenz Curve using the information below. Lowest 2nd 3rd 5th Quantile Quantile Quantile Quantile Quantile 3.6% 8.9% 14.8% 23% 49.8%
. 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?
Pls help -)
What is the approximate Gini coefficient associated with the following income distribution? Household Percentile 0.23 0.08 0.68 0.48 0.13 20th 40th 60th 80th 100th Share of Income 0.05 0.10 0.20 0.25 0.40 Cumulative Share of Income 0.05 0.15 0.35 0.60 1.00
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?