Correct answer N, wrong answer. Thanks17) For a country with unequal income distribution the Gini coefficient is:a. greater than 0b. grater than Ic. between 0 and 1d less than 118) Why do we need a classification and definition of a country or a region ineconomic development?to categorize countries into different groupsb. to evaluate the success of policies and economic systemsto provide targets for development strategiesd. all of the abovea.

Gini coefficient is an economic measure of inequality in income distribution. The range of the Gini…

Answered: 17) For a country with unequal income…

17) For a country with unequal income distribution the Gini coefficient is: a. greater than 0 b. grater than 1 c. between 0 and 1 d. less than

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter6: How Statisticians Measure Inflation

Section: Chapter Questions

Problem 1TY

See similar textbooks

Related questions

Q: Which of the following income distributions represents the most equal distribution of income?

A: Income distribution refers to the way in which income is distributed among individuals or households…

Q: 23. Arnold, Betty, Christine, Donald, and Elena receive incomes of $0, $400, $200, $100, and $300.…

A: Given: Arnold, Betty, Christine, Donald, and Elena receive incomes of $0, $400, $200, $100, and…

Q: Quintile Lowest Second Middle Fourth Highest Share of Income in 2012 (Percent) 3.0 8.2 14.0 21.8…

A: The population is 10000The total income level is $500000000The income level for the individual is…

Q: 1. A society with an income Gini Coefficient value close to 1... a. Represents absolute equality b.…

A: The Gini Coefficient is commonly used to measure income inequality in a country, but it can also be…

Q: --- percentage of population in second quintile: % What percentage of the total income for the…

A: * ANSWER :- Here the total population is divided into 5 quintiles. 0 - 20% - First quintile 20 -…

Q: Define the term “POVERTY”. What are the determinants of poverty?

A: Poverty is a state in which the individuals are not able to satisfy even the basic requirements of…

Q: What is the Gini Coefficient and how is it useful for a third world country. b. Using the following…

A: Macroeconomics refers to the branch of economics that deals with the economy as a whole.

Q: What does the following measure? The percentage of people with an income below a certain level?…

A: Poverty line: - Poverty line is the minimum income level that is considered compulsory or necessary…

Q: What is low income level

A: Low income level refers to the level of income per consumption which is below the median income…

Q: D Question 24 Income inequality is indicated by a Lorenz curve that: approaches the vertical axis.…

A: Income inequality shows the differences in income distribution among households of a society.

Q: Which among the following is not a measure of income inequality? Select one: a. All the answers are…

A: Income is explained as household disposable income in a specific year. It comprises earnings,…

Q: Absolute poverty may differ from country to country by a. income brackets b. health metrics c.…

A: When talking about absolute poverty, it does not only depends upon living standards based on…

Q: On the following graph, plot the Lorenz curves for the three countries. Plot Haiti's Lorenz curve…

A: Lorenz Curve: The Lorenz curve is the graphical representation of the income inequality in the…

Q: 1. See the income distribution of two countries below: Population Poorest 20% Next 20% Next 20% Next…

A: The income level differs from one economic segment to another. If an economy experiences differences…

Q: 13. Which of the following contributes most to the reduction in income inequality? A. Taxes B.…

A: Income inequality refers to the unequal distribution of income among individuals or households…

Q: The ratio of income of the richest fifth of the population to the income of the poorest fifth for…

A: A quintile refers to one-fifth or 20% of a whole, divided into five equal parts. In the context of…

Q: What is poverty and why do we need to measure poverty in the country?

A: Since wealth and income are not distributed equally throughout the economy, inequality is an issue.…

Q: How do government statisticians determine the poverty rate? How could the poverty rate fall while…

A: The poverty means lacking in basic facilities such as food, shelter, cloth, etc. The poverty…

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: Lorenz curve show the inequality in income distribution but it does not show a. the debts…

A: The Lorenz curve is frequently accompanied with a straight diagonal line with a slope of 1, which…

Q: Cumulative Percentage of National Income 100 50 10 10 Country A 0 50 80 Figure 1 A7. Refer to FIGURE…

A: Lorenz curve is a graphical representation of the relationship between the income percentage and the…

Q: inequality in the distribution of personal income EXCEPT a. progressive income taxes b.…

A: Income inequality is said to arise when the income is unevenly distributed in the population of the…

Q: Instructions: Use the interactive tool to plot Lorenz curves for the information in the table.…

A: The Gini index refers to the index that measures the distribution of income across a population. A…

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: 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: A Gini coefficient of 0.15 would indicate that a society’s distribution of income is: A.…

A: The Lorenz Curve is a representation of the distribution of a metric – consumption, wages,…

Q: Why has the distribution of income become more unequal in the last 30 years

A: Income inequality has risen sharply since the past 30 years, even in the most advanced economies…

Q: The following table shows income distribution data for 2015 and 2020 from the World Bank in Colombia…

A: Poverty gap can be defined as the ratio in which the average income of the poor falls below the…

Q: What does the Canadian poverty rate measure? the number of people whose annual household income is…

A: The problem is to determine what the Canadian poverty rate measures

Q: d. As an economist what are some policy recommendation to improve the Gini coefficient for Algura.…

A: Calculate the new Gini Coefficient for Algura when income changes as follows:

Question

Correct answer N, wrong answer. Thanks
17) For a country with unequal income distribution the Gini coefficient is:
a. greater than 0
b. grater than I
c. between 0 and 1
d less than 1
18) Why do we need a classification and definition of a country or a region in
economic development?
to categorize countries into different groups
b. to evaluate the success of policies and economic systems
to provide targets for development strategies
d. all of the above
a.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

A. Outline how ONE (1) measure that the Human Development Index is used to promote:i. economic growthii. economic developmentB. Assess the use of Human Development Index as an alternate measure of EconomicDevelopment.
1. How is education and health considered as joint investments for economic development? Explain the linkage with examples.
1) come up with your own definition of economic development, How should it be measured?
The question am asking is based on the capabilities approach developed by A. Sen. My question is How the Human Development Reports incorporate capabilities as they measure human development?.
The question am asking is based on the capabilities approach developed by A. Sen. My question is Why to lead a long and healthy life, to be educated, to have access to the resources and social services needed for a decent standard of living and to be able to participate in the life of the community are important capabilities to determine human development?.
The method of measuring economic development developed by the UNDP is known as: O a. Gross Domestic Product (GDP) O b. Human Development Index (HDI) OC. Purchasing Power Parity (PPP) d. Physical Quality of Life Index (PQLI)
Human capital is one of the mnost important factors in achieving a successful model for development. An indispensable tool in preparing the human capital to play an active role in development is education (Al Mahrooqi, 2018). Al Hinai (2015) mentioned that "Korea, Taiwan, Singapore, and Malaysia had limited natural resources, but they presented significant industrial achievement due to giving more attention to education and HR development" (P 88). Questions : 1. Write the referencing type in the first and second paragraphs, and write the final reference list if you have the following details.
Answer the question about Contemporary Models of Development and Underdevelopment
How do economists define relationship of inequality and development? Should development stragies priorities the satisfaction of basic needs?
Why is a strictly economic definition of development inadequate? What do you understand economic development to mean? Provide hypothetical or real examples of situations which a country may be devleoping economically but may still be underdeveloped?
What are good economic institutions, why do so many developing countries lack them, and what can be developing countries do to get them? Justify your answe
How is inequality related to development? What relationship can be seen among the two variables economically?