Suppose Inequality decreases without growth of mean incomes. What may likely happen to poverty? Suppose growth of mean income occurs without a change in inequality. What may likely happen to poverty? Explain
Q: Which of the following statements is an example of the economic way of thinking? O a. When an option…
A: Production possibility frontier or PPF shows the different combinations of two goods that can be…
Q: Between a trough and a peak, the economy goes through a(n) Ohyperinflation. bust. recession.…
A: DISCLAIMER “Since you have asked multiple questions, we will answer the first question for you. If…
Q: In which situation does the OPCF 20 provide coverage for transportation replacement? Borrowing a…
A: An optional rider or endorsement that can be added to a vehicle insurance policy in the Canadian…
Q: Scooter's Scooters is a large American manufacturer of electric scooters operating out of Boise.…
A: The manufacturing company Scooter is using a single manufacturing facility to produce all its…
Q: 1/6/23 11. With these equations: C = 230 +0.66 Yd I = 470₁ 6 = 280-0₁13Y₁ X=470, M=555₁ and T =…
A: Consumption, in economics, refers to the use of goods and services by individuals, households, or…
Q: Use the following information to answer the following questions: Mickey L. Douglas, owner of MLD…
A: Marginal Product of Labor: The additional output or production that is generated by adding one more…
Q: A monopoly, unlike a perfectly competitive firm, has some market power. Thus, it can raise its…
A: In a market structure known as a monopoly, one company or other entity serves as the exclusive…
Q: iples of Microeconomics Spring20 spring21 Wage rate Idollars per hour 8 2 P 0 40 80 120 160 Quantity…
A: Minimum wage is a legally mandated hourly wage that employers must pay their workers, ensuring that…
Q: When compared to combination B, combination C provides Select one alternative: O more satisfaction…
A: The description of various movie and book combinations (Combinations A, B, C, etc.) and the…
Q: 1.a) If the three executives of a fraudulent organization report nothing to the authorities, each…
A: Nash equilibrium:It is a sub-topic of game theory in which players play games and use strategy and…
Q: If the demand curve that a monopolist faces is P = 37−Q2 and their marginal cost is equal to their…
A: Monopoly:Monopoly is a market where there is one seller and many buyers. Seller sells the product at…
Q: Suppose the price elasticity of demand for bread is 1.5. If the price of bread falls by 6 percent,…
A: Price elasticity of demand refers to the percentage change in the quantity demanded of a goods or…
Q: If an increase in price from $2 to $4 causes a decrease in quantity demanded from 140 to 100,…
A: Price elasticity of demand = (percent change in quantity demanded) / (percent change in price)First,…
Q: The table below lists the prices from last year and the base year for a college-related basket of…
A: Inflation is an economic term that describes the increase in the general price level of goods and…
Q: 4. Minimum wage legislation The following graph gives the labor market for the fast-food industry of…
A: Equilibrium in the labor market occurs at the intersection of the labor demand and the labor supply…
Q: Case 1: A local bakery has noticed a decrease in the demand for their pastries. They found out that…
A: Since you have posted multiple independent questions, according to our guidelines, only the first…
Q: Expedia wants to use regression analysis to build a model for airfare tickets prices in the states:…
A: Regression model:This model clearly illustrates the relationship between two variables, with one…
Q: 2. The annual commissions earned by sales representatives of Machine Products Inc., a manufacturer…
A: Normal distribution is the case of data distribution where data is not skewed. It is characterised,…
Q: If the short-run aggregate supply curve is horizontal and the long-run aggregate supply curve is…
A: When there is expansion in money supply in case of horizontal supply curve then change in quantity…
Q: Suppose you run the following regression: outcome=alpha0 + alpha1*female + alpha2*married + epsilon.…
A: The objective of the question is to calculate the estimated outcome for married females using the…
Q: When a major storm is forecasted to impact a region (hurricanes, blizzards, etc) there is a run on…
A: Demand is the desire of an individual ability and willingness to pay for a product. The demand is…
Q: PB11. 9.6 Record journal entries for the following transactions of Noreen Turbines. Jan. 1, 2018…
A: The accounting area, and specifically the accounting for notes receivable, interest income, and…
Q: 2. Please go as much as you can to characterize the balanced growth path for the following economy:…
A: A balanced growth path is a steady state in which all economic variables grow at the same constant…
Q: The curve in the figure at right will shift to the right when OA. population falls. B. the price…
A: Long run aggregate supply (LRAS) curve shows the potential level of real GDP of an economy. The…
Q: Use the following figure showing the domestic demand and supply curves for product B in a…
A: Consumer surplus is the area below the demand curve and above the equilibrium price level.Producer…
Q: 1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at $5 per…
A: Marginal benefit refers to the additional satisfaction or utility gained from consuming one more…
Q: Using the accompanying figure for a monopoly firm, answer the following questions. If this industry…
A: In a monopoly market structure, There exists a single seller. There exists high barriers to entry…
Q: Consider an air basin with only two consumers, Huck and Matilda. Suppose Huck's demand for air…
A: Huck's demand function for air quality: and Matilda's demand function for air quality: Supply…
Q: Carefully explain what is meant by the international parity conditions and demonstrate the…
A: International Parity Conditions are a set of international theories that determine the relationship…
Q: Which of the following is false? O We do not have information on nonmarket transactions output that…
A: A crucial economic metric, the gross domestic product (GDP) is the total monetary worth of all…
Q: Suppose a museum charges different entrance fees for children, students, adults, and seniors, but…
A: Price discrimination alludes to the procedure or strategy by which an organization or firm sells…
Q: Question 41 Problem 1 d: Which of the following statements about the Monetary Policy Tools is…
A: Monetary policy alludes to the arrangement of activities and measures executed by a country's…
Q: Table Cost 1.2: Loan #1 - Loan #2 - Interest Rates $25,000 2.00% $40,000 2.50% O No answer text…
A: Total revenue is the product of price and quantity. Monetary expenses are the explicit cost.…
Q: The reserve requirement is 10%. Suppose that the Fed purchases $50,000 worth of U.S. government…
A: Federal reserve system often known as "fed" is the central bank of the united states. It uses its…
Q: What economic policies have impacted the quality of healthcare and access to healthcare…
A: Healthcare, every now and again created as "health care," refers the planned undertakings, services,…
Q: 3. Ashley bought a new pair of jeans. When she walked out of the store, she thought, "I got such a…
A: The difference between what customers really pay and what they are willing to pay for a commodity or…
Q: Exhibit: The Demand for Bungalow Bob's Bagels Price Quantity per period 30 Demand is price elastic…
A: Price elasticity of demand refers to the change in the demand when the price level changes. The…
Q: Question 3 Let the demand and supply curve of a perfectly competitive industry be as follows,…
A: The price at which a good, service, commodity, or asset is currently being bought or sold in an open…
Q: Which of the following would not be included in the calculation of this year's GDP? a. a headlight…
A: Gross domestic product (GDP) can be explained as the total of goods and services that are produced…
Q: The graph to the right depicts the average cost curves and the marginal cost curve for a typical…
A: Perfect competition is a type of market where there are very large number of firms,which have no…
Q: FILL IN THE BLANKS The government utilizes fiscal policies to stimulate aggregate demand and reduce…
A: This can be defined as a situation In which the person is actively finding a job and has have…
Q: What must be done to tilt the balance of trade in favor of south Africa
A: The balance of trade, also called the trade balance, is the difference between the value of a…
Q: The figure below illustrates a tariff. On the graph, Q represents quantity and P represents price.…
A: A tariff is a tax on imported goods.. When a country imports a large proportion of goods from…
Q: Question 10 You would expect there to be many customers for a black market good when the opportunity…
A: Black market: Black market may arises due to price control , black market can be defined as the…
Q: Assume a consumer's preferences over goods X and Y are represented by U(X,Y) = 4* √7X0.30.7 and the…
A: Budget:It is a graphical representation of the combination of two sets. That is earning od consumer.…
Q: Assume the daily demand curve for Potato is given by Demand: Q = 1500 − 15P where, QD demand in…
A: Market equilibrium is a state where the quantity (Q) of a good or service that producers are willing…
Q: er the following equations for a small open economy C = 2500 + 0.85Yd; T = 700 + 0.25Y; G = 8000;…
A: The equilibrium occurs where a aggregate demand and aggregate supply are equal. The income level is…
Q: Two fixtures are being considered for a particular job in a manufacturing firm. The pertinent data…
A: Annual worth or AW is referred to as the easy way of understanding the annual amount, for instance,…
Q: A. Copy and paste the graph above into the text box and shade the area of deadweight l unregulated…
A: Deadweight loss is a term used in economics to describe the loss of economic efficiency that occurs…
Q: 5. Study Questions and Problems #5 Suppose you deposit your paycheck, drawn on another bank. The…
A: An analysis is done on a typical financial transaction in the scenario that involves depositing a…
Suppose Inequality decreases without growth of mean incomes. What may likely happen to poverty? Suppose growth of mean income occurs without a change in inequality. What may likely happen to poverty? Explain
Note:-
- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
- Answer completely.
- You will get up vote for sure.
Step by step
Solved in 3 steps
- What is the difference between poverty and income inequality?What are some reasons why a certain degree of inequality of income would be expected in a market economy?Why does the failure to adjust the poverty line for regional differences in living costs lead to an understatement of poverty in some states and an overstatement of poverty in others? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- How do Economists define Poverty? 1. Economist define the concept of poverty as an economic state where an individual or household level of income is below a level of annual income necessary to provide a minimum or basic standard of living. 2. The poverty rate is directly related to how income is distributed within a society. Per capita income in 2015 and 2016 is estimated at $56,850 and $62,606, respectively. 3. A minimum standard of living refers to the ability of an individual to acquire food, clothing and housing at an adequate level to avoid economic distress. 4. The U.S. government economists evaluate the cost to individuals and households to acquire food, clothing, and housing to maintain a minimum healthy lifestyle. 5. The bench market for the income level necessary to maintain a basic standard of living is based on USDA Research that uses a baseline cost estimate associated with maintaining a healthy diet of 1800 to 2300 calories per day. * YouTube Q [) 5:09 / 5:37 CC Which…How do Economists define Poverty? 1. Economist define the concept of poverty as an economic state where an individual or household level of income is below a level of annual income necessary to provide a minimum or basic standard of living. 2. The poverty rate is directly related to how income is distributed within a society. Per capita income in 2015 and 2016 is estimated at $56,850 and $62,606, respectively. 3. A minimum standard of living refers to the ability of an individual to acquire food, clothing and housing at an adequate level to avoid economic distress. 4. The U.S. government economists evaluate the cost to individuals and households to acquire food, clothing, and housing to maintain a minimum healthy lifestyle. 5. The bench market for the income level necessary to maintain a basic standard of living is based on USDA Research that uses a baseline cost estimate associated with maintaining a healthy diet of 1800 to 2300 calories per day. 5:09 / 5:37 YouTube Q CC Which…D Question 24 Income inequality is indicated by a Lorenz curve that: approaches the vertical axis. Olies parallel to the line of income equality. bows down, away from the line of income equality. bows up, away from the line of income equality. coincides with the line of income equality. Question 25 Measures which aim at eliminating the income disparity between the rich and the poor affect inc
- QUESTION 2 Cumulative Percent of Income 100 80 60 40 20 0 0 20 40 60 Cumulative Percent of Households (Ordered) South Africa --India Which country in this picture has the highest income inequality (measured by Gini) ? -Sweden Absolute Equality. Which country has the lowest Gini coefficient? 80 United States 1001. Describe how each of these changes is likely to affect poverty and inequality: a. Incomes rise for low-income and high-income workers, but rise more for the high-income earners b. Incomes fall for low-income and high-income workers, but fall more for high-income earners. 2. Based on the theory of rational ignorance, what should we expect to happen to voter turnout as the Internet makes information easier to obtain? 3. What is the cost of voting in an election? 4. What is the main factor preventing a large community from influencing policy in the same way as a special interest group? 5. How does the TANF attempt to loosen the poverty trap?What do you think about the income trap - is it a myth or reality? How does the middle-income trap affect the equality and poverty of citizens? What can be done to avoid or escape from the trap? Answer correctly and explain within 40 mins will give you positive feedback.
- 1. Income inequality and the poverty rate The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2012, the poverty line is set at an annual income of $40,850 for an individual. Year 1994 2000 2006 2012 Lowest Quintile 4.0 3.8 3.4 3.0 Share of Total Income in Perkopia (Percent) Middle Quintile Fourth Quintile Second Quintile 10.0 9.7 8.8 8.2 The data in the table suggest that there was 16.5 15.0 14.8 14.0 23.0 22.5 22.0 21.8 Highest Quintile 46.5 49.0 51.0 53.0 income inequality from 1994 to 2012. Complete the following table to help you determine the poverty rate in Perkopia in 2012. To do this, begin by determining the total income of all individuals in each quintile using the fact that total annual income in the economy is $500,000,000. Next, determine the income of an individual…BUS202 CH15 01 How do Economists define Poverty? 1. Economist define the concept of poverty as an economic state where an individual or household level of income is below a level of annual income necessary to provide a minimum or basic standard of living. 2. The poverty rate is directly rélated to how income is distributed within a society. Per capita income in 2015 and 2016 is estimated at $56,850 and $62,606, respectively. 3. A minimum standard of living refers to the ability of an individual to acquire food, clothing and housing at an adequate level to avoid economic distress. 4. The U.S. government economists evaluate the cost to individuals and households to acquire food, clothing, and housing to maintain a minimum healthy lifestyle. 5. The bench market for the income level necessary to maintain a basic standard of living is based on USDA Research that uses a baseline cost estimate associated with maintaining a healthy diet of 1800 to 2300 calories per day. ¢ YouTube Q [3 5:09 /…Being able to work with and understand percentages and ratios is important in many different careers. Consider each of the following situations that require work with percentages or ratios. a. Some government funding is related to the number of people living in poverty in a particular area. The 2010 population of Caswell County, NC, was 23,719 and 21.7% of the people were living in poverty. (Source: quickfacts. census.gov/qfd/states/37/37033.html) How many people were living in poverty in Caswell County, NC, in 2010? b. Wisconsin farmers received an average price of $17.60 per 100 pounds for their milk in April 2012, down $1.60 from April 2011. By what percentage did the average price of milk decrease between April 2011 and April 2012? (Source: www.nass.usda.gov/Statistics_by_State/Wisconsin/Publications/Dairy/mkallpri.pdf) c. The Centers for Disease Control estimates that 1 in 6 people in the United States suffer food poisoning in any given year. At the beginning of 2012, the…