In the above diagrams for a hypothetical economy, Figure 2 shows the: 40 30 Wages and sa aries 20 Protros 10 Rents interest Lowest Second Middle Fourth Highest 20% 20% 20% 20% 20% Income Group Figure 2 Figure 1 personal distribution of income. O functional distribution of income. rates of poverty in the United States. microeconomic distribution of income. Personal income received (%)

In the above diagrams for a hypothetical economy, Figure 2 shows the: 40 30 Wages and sa aries 20 Protros 10 Rents interest Lowest Second Middle Fourth Highest 20% 20% 20% 20% 20% Income Group Figure 2 Figure 1 personal distribution of income. O functional distribution of income. rates of poverty in the United States. microeconomic distribution of income. Personal income received (%)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Working with Numbers and Graphs Q1 The following table shows the income distribution of an economy. Quintile Lowest fifth Second fifth Third fifth Fourth fifth Highest fifth Income Share (Percent) 18 19 20 21 22
O A. II, Guaranteed Basic Income OB. IV, Wage Subsidy OC. II, Guaranteed Basic Income O D. II, Earned Income Tax Credit
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The following question has 4 parts (a.-d.), parts b. to d. will be revealed after submitting your answer by hitting "Verify" on the preceding sections. Suppose an economy is composed of 10 individuals. The following table shows their annual income in thousands of dollars. Individual Individual 1 Individual 2 Individual 3 Individual 4 Individual 5 Individual 6 Individual 7 Individual 8 Individual 9 Individual 10 Income 46 80 96 33 74 54 48 28 83 10
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