Defenders of the existing state of wealth inequality often point out that wealth inequality does not matter, so long as the following type of equality exists:   Equality of Outcome   Equality of Opportunity   Equality before the law (political equality)   Equality after taxes

Q: Discuss income inequality, measurement and causes.

A: The economy's uneven distribution of wealth and income is the root cause of the inequality issue.…

Q: Outline the economic costs and benefits associated with income inequality.

A: Despite of reducing income inequality holds significant advantages for society as a whole, it…

Q: Should a nation’s income be distributed to its members according to their contributions to the…

A: "Since you have asked multiple questions, we will answer only first question for you. If you have…

Q: Explain the difference between income and wealth and describe the difference between income…

A: *Income** and **wealth** are two distinct concepts in economics that refer to the financial…

Q: According to the Census Bureau, a household with a ratio of income to poverty threshold of 1.20 is…

A: A household is said to be in poverty if its income falls below the poverty threshold. Many social…

Q: What is so bad about extreme inequality? Provide one (1) answer, as suggested in Todaro.

A: Inequality measures the disparity in terms of income, and other facilities, which exists among the…

Q: Why is income inequality in America so pronounced? Consider education Outsourcing, immigration, and…

A: Population economics investigates the interplay between demographic elements and economic…

Q: Which of the following statements about race and inequality is correct? Group of answer choices The…

A: Introduction: According to the United States Census Bureau, non-Hispanic whites or Non-Latino whites…

Q: Discuss the major changes in the global distribution of income from 1980 to 2014, paying attention…

A: Global distribution of income- refers to the ways in which income is distributed among people over…

Q: The refers to the specific amount of income needed for a basic standard of living. poverty trap…

A: Poverty refers to the situation in which people do not have money to meet their basic needs of…

Q: What is your opinion on the idea that a persons income and wealth in American society today is…

A: The economic performance of the country would be determined by the national income or the output.…

Q: QUESTION 10 According to OECD data (see the link below), the income inequality as measured by the…

A: In a given year, income is defined as household disposable income. It is made up of earnings,…

Q: Inter-generational income mobility tells us about: A) the extent to which the tax and transfer…

A: Income mobility refers to the ability of individuals to move up or down the income ladder over time.…

Q: The term obtained by dividing the area of inequality shown by a Lorenz curve by the area of the…

A: Gini Coefficient It is the area below the line of perfect equality minus the area below the Lorenz…

Q: 12. For the last 30 years the Gini index of the United States has been about G = 0.4 (slightly…

A: We have Lorenz function, Lpx=xp Gini index= G = 0.4 We know, the Gini index is equal to double area…

Q: Which of the following is not linked to wage inequality for Latinas and African American women? Rise…

A: Wage inequality describes how wages are distributed unequally across a population.Measures of pay…

Q: 1. In the graph, how much of the US population is represented by each person? What does the stack on…

A: This graph is a representation of the actual distribution of wealth in US. This graph divides the…

Q: What is the difference between income inequality and wealth inequality? Can a household with a high…

A: The economic wealth is the procession of the ability to enjoy the small, ordinary pleasure of life.…

Q: Among the properties of the inequality indices, we have seen the Pigou Dalton principle. Do You…

A: Pigou Dalton principle approach towards maximize the social welfare. It states that allocation in an…

Q: How do the greatest disparities of wealth exist in the United States?

A: Disparities of wealth refer to the unequal distribution of assets and resources among individuals or…

Q: In an economy with perfect income equality the Gini coefficient would be

A: The Gini record, or Gini coefficient, measures pay appropriation across a populace.

Q: Briefly discuss the major causes of income inequality. With respect to income inequality, is there…

A: Income inequality can be referred as the difference or gap between the payment to individuals or…

Q: Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage…

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: Explain two solutions to overcome economic inequality.

A: Solutions to overcome inequality To overcome inequality,government should increase minimum wage law…

Q: The income distribution for a certain country in 1996 was estimated by the function f(x) = 0.66x2…

A: Income distribution defines the two-parameter model for the Lorenz Curve which shows the cumulative…

Q: Equity is not equality but the concept of

A: Equality is the impact of treating each as without distinction; every individual is considered…

Q: Which of the following is the most critical factor contributing to poverty reduction across the…

A: The most critical factor playing a role in poverty reduction across the world is commerce, trading,…

Q: Henry George and William Graham Sumner both wrote in the late nineteenth century about poverty and…

A: Henry George in his book "Progress and poverty" investigates the paradox of increasing inequality…

Q: Which of the following is a reason for increased income inequality? Market forces lead to highly…

A: Income Inequality: The term income inequality refers to the situation wherein a society few people…

Q: 5. Make an eyeball estimate of what percent of US wealth is owned by the poorest 20 percent.

A: These bars show the distribution of wealth among Americans. And the distribution of income is from…

Q: Comparison of the share of the total income in a society that different groups receive measures:…

A: The answer is - income inequality.

Q: Will The Tax Reform for Acceleration and Inclusion Law (TRAIN Law) will lessen or worsen poverty and…

A: TRAIN LAW or the Tax Reform for Acceleration and Inclusion Law is a enforced in Phillippines in…

Q: Comment on or explain: Equality is a “superior good”; the richer we become, the more of it we can…

A: Equality is the situation in which the economy treats everyone equally and provides equal status in…

Q: is a decrease in the productive capacity of capital so that wages and salaries are instead paid to…

A: *Answer:

Q: Choose a country of your choice and answer the following questions: I) is there any income…

A: Income is the money received by a person or institution during a certain time period, usually a…

Q: How do factor endowments affect personal income? Examine different provisions employed by the…

A: Factor endowment: It refers to the land, labor and capital. Factor endowment helps in the production…

Q: Debate the economic arguments for and against income inequality

A: The unequal distribution of income across population is called income inequality. The dispersion is…

Q: Suppose a government program guarantees $2,000 a month in income, even for those who do not work at…

A: A poverty trap is a situation in which individuals or households are caught in a cycle of poverty…

Q: If the calculation of the poverty line included the value of government programs as income, the…

A: The poverty rate of a country is merely and actually calculated basically on the basis of either…

Q: The closer the Lorenz curve for income is to the line of equality, the larger is the nation's total…

A: Lorenz curve is a line which shows income distortion of households which is on x axis and cumulative…