Explain possible errors in the following statistical representations: Aggregate income, by source Government employee pensions 6% Private pensions 3% Asset income 15% Other 16% 1962 Social Security /30% Earnings 28% Source: Social Security Advisory Board Left scale represents tax revenues as a percentage of GDP. Bottom scale represents central government corporate tax rates. 10.0% 8.0 6.0- 4.0 2.0 Zo UA.E. - eland Norway Australia Luxembourg Canada Iceland U.K. they can se any POSITIVE of real num Germany Laffer Curve France U.S. * 0.0 0.0% 5 10 15 20 25 30 35 40 45 50 Sources: OECD Revenue Statistics, Kevin Hassett, American Enterprise Institute

Explain possible errors in the following statistical representations: Aggregate income, by source Government employee pensions 6% Private pensions 3% Asset income 15% Other 16% 1962 Social Security /30% Earnings 28% Source: Social Security Advisory Board Left scale represents tax revenues as a percentage of GDP. Bottom scale represents central government corporate tax rates. 10.0% 8.0 6.0- 4.0 2.0 Zo UA.E. - eland Norway Australia Luxembourg Canada Iceland U.K. they can se any POSITIVE of real num Germany Laffer Curve France U.S. * 0.0 0.0% 5 10 15 20 25 30 35 40 45 50 Sources: OECD Revenue Statistics, Kevin Hassett, American Enterprise Institute

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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National income is calculated using all of the following except Wages Rent Government purchases Corporate profits Proprietor's income
HDI vs GNI formula to create scatterplot
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