Q: Use quintiles to briefly summarize the degree of income inequality in the United States. How and to…
A: In 2016, the lowest quintiles’ average market income in the United States was $15,600 and for the…
Q: Despite the recent unprecedented technological advancement and economic growth, inequality of…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: How does the government make an equitable/impartial/fair distribution of income? Give an example and…
A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…
Q: Who is poor? Why does poverty still exist?
A: Poverty: It refers to a situation under which the individuals are unable to fulfill their basic…
Q: The median earnings for a 25 to 34 year old, full-time, year round worker with a high school…
A: Earning of individuals from 25-34 years old:-Those with high school education=$31,830Those with…
Q: How can the profit motive lead to income inequality? (Pages 33 – 35) pages 33 Investment is…
A: The motive of profit is the intension of receiving monetary gains in a transaction. It is an…
Q: What does Ramey argue needs to be the policy focus for reducing inequality in the U.S.? O Create…
A: When talking about inequality among people, especially in terms of income inequality, Garey Raney…
Q: 1. What factors contribute to the differences in median income for various ethnic groups?
A: When analyzing the economic condition of country, it can be seen that the median income of ethnic…
Q: Answer this question under 100 words and draw a Lorenz graph to explain it. In the Financial Times’…
A: The Covid-19 pandemic is worsening global economic inequality both geographically and socially. As…
Q: 1. If an economy has perfect income equality, explicitly describe what that economy's Lorenz Curve…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: 5. What evidence shows a growing agreement in the US that economic inequality is a problem?
A: The variety found in the distribution of income and wealth among the population in an economic…
Q: In your perspective, what is poverty? State a reason why a resolution is necessary Show the plan to…
A: Poverty is defined as a state or condition in which an individual or a group lacks the financial…
Q: We are interested to know about the main factors that cause POverty.. WHAT is the cause of Poverty…
A: Poverty is a situation or situation where an individual or community lacks financial resources and…
Q: What is the utilitarian idea of fairness and what is wrong with it? According to utilitarians, OA.…
A: The utilitarian idea of fairness is rooted in the philosophy of utilitarianism, which aims to…
Q: Both the "cultural theory of poverty" and the "cultural system and poverty" argue that poverty is a…
A: The Culture of Poverty Theory states that poverty is caused due to people's values and cultural…
Q: 21. Government policies to reduce inequality and poverty include all of the following except a)…
A: Governments aim for economic development by promoting equity and reducing inequality and poverty…
Q: Explain the reasons for rising income inequality in the United States. If there are arguments…
A: The term income inequality indicates the extent to which income is ununiformly distributed…
Q: 3. On the grid below, plot 3 different Lorenz curves for three different imaginary towns described…
A: Lorenz curve graphically measures the inequality in an economy by representing the distribution of…
Q: . When can inequality be a good thing?
A: Inequality is the distribution of resources and opportunities among members of a society that is…
Q: If the United States is to reduce poverty by using a negative income tax, the guaranteed income…
A: We will use concepts such as negative income tax and tax credit to answer this question.
Q: Comment on or explain: Endowing everyone with equal income will make for very unequal enjoyment and…
A: A person's revenue basically depends on his / her attributes, such as talent, experience , and…
Q: In a column in the Washington Post, Robert J. Samuelson wrote: "As for what's caused greater…
A: In the society there exists inequality in earning capacity of people. This is why the government…
Q: A society with progressive income taxes will likely have a very unequal after-tax distribution of…
A: Explanation: A free-market economy produces AN unequal distribution of financial gain. Since the…
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: 1. Explain fully the difference between Utilitarianism and Libertarianism. 2. Describe the the…
A: Utilitarianism and libertarianism are at odds with one another. According to utilitarianism, one…
Q: 5 Which philosopher's ideas would promote policies that favor the greatest use of income…
A: The transfer of income and wealth (including physical property) from one person to another by a…
Q: Which one is better? Equality or Equity? Give an example in which the government has done such a…
A: Meaning of Equality and Equity:Equality refers to the situation where the goods and services are…
Q: Click here to watch "How Economic Inequality Harms Societies by Richard WilkinsonLinks to an…
A: The unequal distribution of income, wealth, and opportunities among people or groups in a society is…
Q: 1.
A: The income one receives from their employment is the earned income. It includes wages, salaries, and…
Q: Focus on the Democratic party verus the Republican Party. How does each party view global economic…
A: PLEASE SEE HEREHere is the guided explanation; you can tailor it and add your own insights.…
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: 18. In most cases, reducing inequality helps society as a whole (at the expense of paying certain…
A: Reducing inequality of income and wealth holds significant advantages for society as a whole, even…
Q: 1. How much of the total US wealth is owned by (a) the richest 1 percent? (b) the poorest 40…
A: Income and wealth inequality refers to the inequality between various individuals. The article…
Q: What is the trade-off between equality and efficiency?
A: In economics, trade off is a situation in which one aspect is lost in order to gain another.
Q: Does inequality necessarily suggest unfairness? Explain.
A: Inequality is not beneficial to society,but it may not harm society also. Some theories suggests…
Q: Summarize what has happened to the incidence of poverty since 1960, and determine when and why the…
A: ***Since the student has posted multiple questions, the expert is required to solve only the first…
Q: How does this document help answer the question, “How should the US reduce economic inequality?”
A: US should reduce economic inequality by following steps :- 1. End of residential segression 2.Tax…
Q: ASTRS The graph shows the Lorenz curve for income in the graph, the second poorest 20 percent of…
A: In this case, we have to discuss the Lorenz curve for income. The Lorenz curve actually determines…
Q: What is the best way to combat poverty over time? When should government regulate business?
A: Poverty is defined as the inability to fullfill minimum basic standard of living . It means low…
Q: Over the last half century, there has been a significant change in the number of current workers per…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
1.What is "economic inequality"? Give some examples and explain your reasons?
Step by step
Solved in 2 steps
- Which of the following is an example of a positive economic statement? a.The government should not be involved in the income redistribution schemes. b.The after-tax distribution of income is more equal than the pre-tax distribution of income. c.The distribution of income in the United States should be more equal. d.The tax system should be more progressive so that the after-tax distribution of income can be more equal.Please answer fast please arjent help asap please answerA5 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
- What does government now do, and what could and should government do, to reduce economic inequality? Discuss the impact of government on economic inequality and how it has changed over time. What are your top three suggestions for specific programs or policies which governments could adopt to change the level and trend of inequality? Why?3. Why is income and wealth inequality a threat to the future of democracy and economies around the world? What are the main factors that have caused inequality to increase over the last few decades? What policies would you suggest to reduce inequality?7. Which of the following interventions will address the concern on poverty and unequal distribution of income? a. Free Tuition and Matriculation in all levels. b. Free and accessible health services for all. c. Free housing for the urban poor. d. All of the above.
- The table shows the distribution of income in the Australia Complete the column of the table that records the cumulative percentages of income in Australia received by the cumulative percentages of households. Cumulative percentage of Income Households Lowest 20 percent (percentage) Households Income 8 Lowest 20 13 Lowest 40 Second 20 percent Third 20 percent 18 Fourth 20 percent 23 Highest 20 percent 38 Lowest 60 Lowest 80 100 100.0 The graph shows the Lorenz curve for the United States Draw the line of equality Draw a point to show the cumulative percentage of income received by the lowest 40 percent of Australian households Label it 1, Draw a point to show the cumulative percentage of income received by the lowest 80 percent of Australian households. Label it 2 Draw the Lorenz curve for Australia. Label it Based on the data provided, which country has the more unequal income distribution? OA Australa OB. Neither. They have the same degree of inequality. OC, The United States OD. It…WHAT ARE SOME POLICIES THAT A GOVERNMENT CAN IMPLEMENT TO REDUCE INCOME INEQUALITY? SELECT ALL THAT APPLY A. Increase spending in education. B. Lower tax for the top quintile. C. Stregnthen anti-discrimination laws based on race, gender, sexual orientation, marital status, religion, and disability status. D. Increase access to affordable healthcare to all. E. Encourage corporate stock ownership.Suppose the teacher for your course, "Principles of Economics" is a libertarian and adheres strictly by its principles in running your economics class. What policies would you expect your teacher to institute? Policies a Libertarian Would Enforce Policies a Libertarian Would Not Enforce The teacher, seeing grade inequality, decides to give points from the best student's test to the worst's students test. The teacher decides to give everyone in the class an A. The teacher punishing a student for cheating on her income equality and poverty homework assignment. Grade the class on a curve to ensure even grade distribution. When proctoring a test, your teacher requires all students to be given the test face down and all turn over your tests at the same time so that no one has a time advantage.
- Which of the following statements are true about income inequality? Choose all that apply. A. Income inequality in the United States can be largely blamed on corruption. B. Extreme income inequality can be harmful to society C. Income inequality in the United States has improved dramatically over the last few decades D. Income inequality will likely always exist in free societies with free marketsWhy do national and global scale events such as the Great Recession have different effects indifferent neighborhoods and places? Why does the unevenness and inequality tend to persist alonglines of race and income?You have learned that poverty is an concern which the government has programs to address. An example of this might be a program which will pay a person the same wage they would receive from a full time job. A situation like this would be an example of Select the correct answer below: How the poverty line is affected. How a guaranteed income program discourages work. O How different groups are affected by poverty. How people can get stuck in a poverty trap
