Monthly Housing Expenditures (Dollars) Family 300 440 3 350 4 1,100 5 640 6 480 450 700 670 10 530

Q: If a good is considered to be a normal good it has a relationship with income.

A: The good or services are the commodities that adds value. It satisfies the human wants by…

Q: Margaret works as a tutor and earns $20 per hour of tutoring. She has no other source of income. a.…

A: Since you have asked multipart question, we are answering first three parts. If you want any other…

Q: AVERAGE INCOME PER FAMILY Distributed by income group TOP 0.01% $23,846,950 Top 0.01% Top o.01-0.1%…

A: Per capita income means average income of population. It is the ratio of total income and total…

Q: Suppose country A has five families. Their incomes are $10,000, $20,000, $30,000, $40,000, and…

A: Given: The number of families is = 5 Income of the families are $10,000, $20,000, $30,000, $40,000,…

Q: Personal income (PI) is the income that households are free to spend or save as they please. true or…

A: The statement is partially true. Personal income (PI) is indeed the income that households receive.…

Q: What do the charts tell us about the distribution of income in the U.S.?

A: Italian statistician Corrado Ginni is the one who invents the tool Gini Coefficient. It is an…

Q: What is the difference between the income consumption curve and the Engel curve

A: The Income Consumption curve deserves a relationship between the different levels of consumers'…

Q: Medicaid utilizes O personal funds that are matched by federal government to help low-income…

A: Hospitals, community health clinics, doctors, and nursing homes are all financed through Medicaid.…

Q: Look at the following ratios: • 90/10 ratio the ratio of Decile 10 income to Decile 1 income • 90/50…

A: The decile dispersion ratio compares the average earnings/income of the x percent (wealthy…

Q: Data on the distribution of income for the United States show that from 1970 through 2014, the share…

A: The distribution of income refers to how a country's total economic output (GDP) is divided amongst…

Q: explain how gross product is calculates using the income approach

A: Gross domestic product is sum of value of all the goods and services that are produced in a country…

Q: Gorgeousleny with an income of P150 would like to buy two goods. Let us say juice and bread. Price…

A: Two Products i.e. Juice and Bread Income = 150 Price of Juice = 12 Price of Bread = 6

Q: Find the gross income, the adjusted gross income, and the taxable income. Suppose your neighbor…

A: Gross income refers to the total amount of income earned by an individual or business before any…

Q: 2) Which of the following statements regarding net income transferred to retained earnings is…

A: In the end of an accounting period, a agency calculates its net income, which is the total sales…

Q: Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVs)…

A: Budget line:It is a graphical representation of the combination of two sets. That is the earning of…

Q: Calculate the value of APC when Consumption is given to be $230 and the income is $500

A: Consumption = 230 Income = 500

Q: a) direct relationship. b) positive relationship.  c) obsolete relationship  d) negative…

A: please find the correct answer below.

Q: Use the item weights in the figure to determine the percentage change in the CPI that would result…

A: The cost difference between purchasing a bundle of goods and the base year is measured by the…

Q: 1. Assume that a survey of households revealed that the non-institutional population 16 years and…

A: Title: Understanding Labor Market Dynamics: Unemployment Rate, Labor Force Participation Rate, and…

Q: Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVs)…

A: A line that shows the combination of two goods or services that a consumer can buy given a specific…