Calculate the headcount ratio and interpret the value. Calculate the total income gap and interpret the value. Calculate the average proportional incorhe gap and interpret the value.

Q: 1. The following boxplots show the total income of 40 randomly chosen households each from…

A: Box plots are based on the quartiles of the data, the median shows the middle value of the data, the…

Q: Explain the difference between TANF, the earned income tax credit, SNAP, and Medicaid.

A: TANF: It provides a fixed amount to the state for poor people. EITC: It works for the…

Q: 3. Thailand's Gini index in 2019 was 34.9%. The equation of the Lorenz curve that was used to…

A: Gini index is a measure to calculate income inequality in a country. It is equal to the ratio of…

Q: Item#1 Draw the Lorenz curve and compute the Gini index of a group whose incomes are 25, 32, 60, 40,…

A: The provided data set is: 25, 32, 60, 40, 38, 50

Q: The movement of individuals and households from one income quintile to another over time is called…

A: In an economy, income of the people changes over time with the change in market condition and an…

Q: 2. Draw a complete and clearly labeled Lorenz Curve using the information below. Lowest 2nd 5th…

A: A Lorenz curve/bend is a graphical portrayal of the dissemination of income inside a populace.…

Q: Canada had the following distribution of Income after taxes in 2006 Based on the information in the…

A: Gini Coefficient is a widely used measure for income inequality in the countries . Gini Coefficient…

Q: Define Gini coefficient?

A: A Gini coefficient can be understood as a tool that helps to measure the distribution of income…

Q: Poverty Trap 7. The American Poverty Trap is a phrase used to describe the tendency for individuals…

A: In America, the unemployed have various benefits including the unemployment benefits. Once the…

Q: An economy has 5 households with annual income (alphabetical order): A - $40,000, B - 30,000, C -…

A: Answer : The completed table, as per the specifications, is as follows: (All amounts in $)   Y…

Q: Why is the wage distribution positively skewed? (ii) Describe how to calculate the Gini coefficient.…

A: The Gini coefficient's principal advantage is that it is a proportion of imbalance, not a…

Q: 12. Assume that the absolute poverty line is $120 in Pakistan. The total population of Pakistan is…

A: Head Count index is that proportion of the population that lives below the poverty line. here we…

Q: Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2,…

A: Income disparity occurs when an economy's income is not distributed evenly among its citizens. The…

Q: Lorenz Curve. The income distribution of a certain country is given by 19 f(x) = x² + 1 X. 20 20 а.…

A: * ANSWER :-  *(a)

Q: A group of eight people have the following annual incomes: $10,000; $9,000: $15,700; $5,000, $6,500;…

A: A quartile splits data into four categories by dividing it into three points: the lower quartile,…

Q: Based on 2016 data on the distribution of personal income: Multiple Choice 12.3 percent of all…

A: Personal Income is the total income that is available to the people before the deduction of…

Q: What is a "quintile"? Provide and explain one example of how this concept is used in the discussion…

A: The first quintile represents the usual lowest fifth of the data (1 percent to 20 percent); the…

Q: Income distribution is an vital consideration in economics. The Lorenz Curve, as you have learned,…

A: please find the answer below.

Q: According to research published by the US Census Bureau, Select the correct answer below: there is a…

A: US bureau is a federal organisation which produces data about the US people and economy

Q: The data in the table below shows the income of some random people in Massachusetts. If these were…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: Cumulative 100% percentage of income - Niger 90% 80% ---Argentina 70% 60% 50% 40% 30% 20% 10% 0% 0%…

A: The straight diagonal line is the line of equality as it divides the box into two equal parts. So if…

Q: Explain how a Lorenz curve is used to describe income inequality.

A: A Lorenz curve could be a graphical representation of income inequality or wealth inequality. The…

Q: Should the government be involved to create more equality in income disparities

A: Income disparity is the way unevenly income is disseminated all through a populace. The less…

Q: For the United States in 2016, a Gini coefficient of 0.415 suggests that: OA. the United States has…

A: The Gini Coefficient is the measures of income inequality in the country.

Q: Suppose there is an economy where 80 percent ofpeople earn more than their parents and 40 percentend…

A: Income inequality: It refers to how unevenly pay is dispersed all through a populace. The less…

Q: Brazil is a country that has seen income inequality drop over the last decade, unemployment is at…

A: a) The unequal distribution of income across a population is referred to as income disparity. The…

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 top 1 percent of American households hold nearly 40percent of the total wealth. T or F?

A: Macroeconomics is important for a country. Aggregate demand and aggregate supply are parts of…

Q: The table below is an illustration of Pareto efficiency criterion after the implementation of a…

A: Pareto efficiency refers to the situation in which the all economic agents reached at a level where…

Q: Use the two different distributions of income in the table below to answer the questions f follow.…

A: "Since you have asked multiple parts, we will answer only first two parts for you. If you have any…

Q: Paddy has lots of cousins. With a family reunion in the near future, Paddy decides to collect income…

A: please find the answer below.

Q: Which two of the following are most likely to reflect a move towards a more equal distribution of…

A: Ans. 19. The Gini coefficient is a tool that measures the income and wealth inequality of different…

Q: Differentiate size distribution and functional distribution of income.

A: Under economics, an important concern is distribution of income as it results in inequality. To…

Q: Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2,…

A: Income Disparity is defined as an event or situation which occurs when an economy's income is not…

Q: In the government of a country's budget the finance minister proposed to raise the tax on…

A: The data presented in the question is:- Firstly the government has decided to raise the tax on…

Q: Share of Total Income in Perkopla (Percent) Year Lowest Quintile Second Quintile Middle Quintile…

A: *Answer:  Income inequality measures the difference in the distribution of income among different…

Q: SLO-4.1. The amount of money people have to spend after buying necessities such as food, clothing…

A: People has income which they spend of different types of goods such as on necessary goods and…

Q: The U.S. income distribution is not fair.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: OA. percentage of total income received by each quintile against the percentage of households in the…

A: Income is the progression of cash, acquired from elements of production. Then again, wealth is the…

Q: A group of 10 golfing buddies have the following annual incomes: Income $32, 000 $12, 000 $56, 000…

A: Income quantile An income quintile is a measure of income distribution status that divides the…

Q: Describe how to calculate a Gini coefficient.

A: The Gini index (Gini coefficient) is a calculation of income distribution established by Corrado…

Q: Consider the following table with individuals in a country and their incomes: Individuals Income 5…

A: A Lorenz curve represents the inequality in income or wealth in an economy. The curve was developed…

Q: How comprehensive income is measured according to Haig Simon's definition?

A: Haig- Simons income or comprehensive income is the measure of income used by economists of public…

Q: Suppose that the United States has a Gini ratio of 0.41 while Sweden has a Gini ratio of 0.31. Which…

A: The Gini coefficient, or Gini index, is a proportion of the dispersion of income across a populace…