Consider the following table that gives the monthly per capita consumption expenditure of 10 households with poverty line given as $500 per month. Poverty Gap is %.Monthly per capita consumption expenditure (in $) of 10 households5400 300 1000 250049400 9502367810Country A900 1200505100O a 40O b. 13O c. 27O d. 16

Average income=Total incomenumber of monthsAverage…

Answered: Consider the following table that gives…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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For the United States in 2016, a Gini coefficient of 0.415 suggests that: O A. the United States has almost achieved income equality. B. the average household income is $41,500. C. relative to Sweden, Denmark, and Japan, the United States has comparatively high levels of income inequality. OD. 41.5% of US households live in poverty
A poverty trap is represented by point population growth and on the diagram below and represents a situation of steady state income. O C high; low O B; high; low O A; high; low O C; low; high O A; low; high
What is poverty and what are three of its harmful environmental and health effects? About whatpercentage of the world’s people struggle to live onthe equivalent of $1.90 a day? About what percentage have to live on $3.10 a day? How are povertyand population growth connected? List three majorhealth problems faced by many of the poor.
The following tax week contributes most to higher social mobility: O VAT O Wealth tax O Inheritance tax O Income tax
An oconomy has two sectors, Sector 1 and Soctor 2. For simplicity, assumo both sectors only uso labor In production, and labor Is homogeneous. Lot MPL = marglnal product of labor, APL = averago product of labor, (WIP) = real wage, the most officlont allocation of labor for this economy happens when (note: a subscript danotos the sactor, o.g., (WIP), is the real wage pald in Sector 1) O A. (W/P)1 = AP4 and (W/P)2 = APL2 OB. (W/P)1 APL1= (W/P)2 APL2 OC (W/P)1 = MPL1 and (W/P)2 = MPL2 O D. (W/P)1 = MPL1 = (W/P)2 = MPL2 %3D
QUESTION 19 Which of these is NOT a component of the 2016 Social Security reform proposal by Democratic lawmakers? O a. an increase in minimum benefits to 25% above the poverty line b. an increase in benefits by 2% for all recipients O c. a more generous cost-of-living adjustment O d. lower payroll taxes
Suppose a single parent can work up to 16 hours per day at a wage rate of$10 per hour. Various income maintenance programs have been developed to assurea minimum level of income for low-income families. Aid to Families withDependent Children (AFDC) was established with the Social SecurityAct of 1935. The family was given an income subsidy depending on family size. Under this program, the family’s benefi t was reduced by $1 forevery dollar earned. Suppose the maximum daily subsidy for the singleparent described in this problem is $40.a. Draw the daily budget constraint without program participation forthe single parent described in this problem.b. On the same graph, draw the daily budget constraint under AFDC forthe single parent described in this problem.c. What effect does this program have on the incentive to work? Explain.
O A. II, Guaranteed Basic Income OB. IV, Wage Subsidy OC. II, Guaranteed Basic Income O D. II, Earned Income Tax Credit
Wealth, earnings, and disposable income are just three of several ways of looking at inequality. Imagine a household that earns $80,000 per year from labor. In that year, it also receives an income of $3,000 from investments, pays $12,000 in tax, and receives $7,000 in transfers from the state. Which of the following is its market income and its disposable income? O $83,000; $71,000. O $83,000 $78,000. O $80,000; $68,000. O $80,000; $75,000. J
Ten college students have accepted job offers for the year after they graduate. Their starting salaries are given here. Organize the data into quintiles and then, using these data, draw the Lorenz curve for this group. Finally, calculate the relevant Gini coefficient. Becky $42000 Billy $20000 Charlie $31000 Kasia $24000 Nina $34000 Raul $37000 Rose $29000 Thomas $35000 Willis $60000 Yukiko $32000 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.
According to a US Census Bureau survey in 2014 Muple Choice O ● O 25.03 63 55 55.35 percent of unauthorized immigrant households used at least one form of welfare, as compared to percent of a migrant households households with a c
1. Define the concept of absolute poverty and Identify FOUR (4) measures undertaken by the government to eradicate rural poverty.

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