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Essay Topic: Economic Inequality
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- Article Summary According to the U.S. Census Bureau, income inequality in the United States was "significantly higher" in 2018 than in 2017, with the gap between the richest and poorest households the largest it has been in the last 50 years. At the same time, median U.S. income hit its highest level ever, with a national economy experiencing low unemployment and more than 10 years of consecutive GDP growth. According to Rutgers University Professor William M. Rogers III, the most troubling aspect of this report is that it "clearly illustrates the inability of the current economic expansion, the longest on record, to lessen inequality." The Census Bureau report also states that the nation's poverty rate fell in 14 states and Puerto Rico, and that for the 25 largest U.S. cities, the poverty rate either remained the same or fell in 2018. Source: Bill Chappell, "U.S. Income Inequality Worsens, Widening To A New Gap", NPR, September 26, 2019. Refer to the Article Summary. The article…QUESTION 2 Cumulative Percent of Income 100 80 60 40 20 0 0 20 40 60 Cumulative Percent of Households (Ordered) South Africa --India Which country in this picture has the highest income inequality (measured by Gini) ? -Sweden Absolute Equality. Which country has the lowest Gini coefficient? 80 United States 1002.“South Asia has a lower income per capita than subSaharan Africa.” Comment on the validity of thisstatement.
- 71% 1. Compute the total cost and total revenue for each company? 2. Find the break-even point for each company? 3. Draw the break-even chart? 4. Which company do you choose to invest your money in? Why? 450 400 350 300 250 200 150 100 50 5 10 15 20 25 30 3. Il-Consider the graph of the linear equation in the accompanying figure:12Topic: Economic Inequality Clear the greatest myth and end with a picture for the future.
- 6. Compare & contrast EITC, the minimum wage, and UBI. Which do you think is most effective in alleviating poverty and furthering the goals of a more just society? Why? (4-6 sentences.)Table H-1. Income Limits for Each Fifth and Top 5 Percent of All Households: 1967 to 2021 Current Dollars 2021 Year Number (thousands) Lowest Upper limit of each fifth (dollars) Second Third 89,744 Fourth 149,131 Lower limit of top 5 percent (dollars) 131,202 28,007 55,000 Question 04b: Which of the following statements are true? a) The upper limit on income of the lowest 20% of households in the United States is $28,007 meaning the range of the lowest quintile is from zero to $28,007. 286,304 b) The income range of the middle (third) quintile of households is from $55,001 to $89,744. c) The top 20% of households had income of at least $149,132. d) All of the above are true statements for the almost 130 million households in 2021.Many individuals identify more with members of the population with which they share a common background rather than with the overall culture. Shared similarities such as language, national origin, ethnicity, etc., are thus identifiers of the various groups that make up the major culture. A Age cohort Gender identity C Socio-economic D Subcultural