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answer all please 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 $43,275 for an individual. Share of Total Income in Perkopia (Percent) Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile 2000 3.2 8.0 14.0 21.8 53.0 2006 3.5 9.0 14.9 22,4 50.2 2012 3.8 9.6 15.0 22.7 48.9 2018 4.0 10.0 16.5 24.0 45.5 The data in the table suggest that there was Income inequality from 2000 to 2018. 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 in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recal that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poerty line of $43,275. Share of Income in 2012 Total Income Individual Income (Percent) (Dollars) (Dollars) Below Poverty Line? Quintile Lowest 3.8 Second 9.6 Middle 15.0 Fourth 22.7 Highest 48.9 Using the information in the previous table, the poverty rate in Perkopia in 2012 is ▼ Suppose that the government introduces a welfare program in which any individual with an income of less than $43,275 per year receives a lump-sum transfer payment of $7,000 from the government. Assume that, in the short run, there is no change in labor-supply behavior among the people in Perkopia. In the year 2012, the poverty rate after the introduction of the weifare program in Perkopia is

answer all please 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 $43,275 for an individual. Share of Total Income in Perkopia (Percent) Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile 2000 3.2 8.0 14.0 21.8 53.0 2006 3.5 9.0 14.9 22,4 50.2 2012 3.8 9.6 15.0 22.7 48.9 2018 4.0 10.0 16.5 24.0 45.5 The data in the table suggest that there was Income inequality from 2000 to 2018. 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 in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recal that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poerty line of $43,275. Share of Income in 2012 Total Income Individual Income (Percent) (Dollars) (Dollars) Below Poverty Line? Quintile Lowest 3.8 Second 9.6 Middle 15.0 Fourth 22.7 Highest 48.9 Using the information in the previous table, the poverty rate in Perkopia in 2012 is ▼ Suppose that the government introduces a welfare program in which any individual with an income of less than $43,275 per year receives a lump-sum transfer payment of $7,000 from the government. Assume that, in the short run, there is no change in labor-supply behavior among the people in Perkopia. In the year 2012, the poverty rate after the introduction of the weifare program in Perkopia is

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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answer all please 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 $43,275 for an individual. Share of Total Income in Perkopia (Percent) Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile 2000 3.2 8.0 14.0 21.8 53.0 2006 3.5 9.0 14.9 22.4 50.2 2012 3.8 9.6 15.0 22.7 48.9 2018 4.0 10.0 16.5 24.0 45.5 The data in the table suggest that there was v income inequality from 2000 to 2018. 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 in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recal that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poverty line of $43,275. Share of Income in 2012 Total Income Individual Income (Percent) (Dollars) (Dollars) Below Poverty Line? Quintile Lowest 3.8 Second 9.6 Middle 15.0 Fourth 22.7 Highest 48.9 Using the information in the previous table, the poverty rate in Perkopia in 2012 is ▼ Suppose that the government introduces a welfare program in which any individual with an income of less than $43,275 per year receives a lump-sum transfer payment of $7,000 from the government. Assume that, in the short run, there is no change in labor-supply behavior among the people in Perkopia. In the year 2012, the poverty rate after the introduction of the welfare program in Perkopia is Again, suppose the government introduces a welfare program in which any individual with an income of less than $43,275 receives a lump-sum transfer payment of $7,000 from the government. Crystal, a resident of Perkopia who currently earns an income of $42,474, has the opportunity to work overtime and earn an additional $1,500 this year. Which of the following statements are correct? Check all that apply. O Crystal would gain more income by turning down the overtime than she would if she accepted the overtime O The $7,000 in aid creates a disincentive for Crystal to earn more than $43,275 per year.
Transcribed Image Text:answer all please 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 $43,275 for an individual. Share of Total Income in Perkopia (Percent) Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile 2000 3.2 8.0 14.0 21.8 53.0 2006 3.5 9.0 14.9 22.4 50.2 2012 3.8 9.6 15.0 22.7 48.9 2018 4.0 10.0 16.5 24.0 45.5 The data in the table suggest that there was v income inequality from 2000 to 2018. 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 in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recal that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poverty line of $43,275. Share of Income in 2012 Total Income Individual Income (Percent) (Dollars) (Dollars) Below Poverty Line? Quintile Lowest 3.8 Second 9.6 Middle 15.0 Fourth 22.7 Highest 48.9 Using the information in the previous table, the poverty rate in Perkopia in 2012 is ▼ Suppose that the government introduces a welfare program in which any individual with an income of less than $43,275 per year receives a lump-sum transfer payment of $7,000 from the government. Assume that, in the short run, there is no change in labor-supply behavior among the people in Perkopia. In the year 2012, the poverty rate after the introduction of the welfare program in Perkopia is Again, suppose the government introduces a welfare program in which any individual with an income of less than $43,275 receives a lump-sum transfer payment of $7,000 from the government. Crystal, a resident of Perkopia who currently earns an income of $42,474, has the opportunity to work overtime and earn an additional $1,500 this year. Which of the following statements are correct? Check all that apply. O Crystal would gain more income by turning down the overtime than she would if she accepted the overtime O The $7,000 in aid creates a disincentive for Crystal to earn more than $43,275 per year.
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