One of the noted proposals to "fix" SocialSecurity is would whichProvide more benefits to workers 50 - 55;balance the pool of eligible pensionrecipientsPrivatization; transfer the management ofSocial Security to the private sectorLeave the program unchanged; resolvecosts due to economic fluctuations overthree decadesCut payroll taxes to zero; unleash the USeconomy to make the program solventOne of the noted proposals to "fox" Social Security iswouldwhichO Provide more benefits to workers 50:55: balance the pool of eligible pensionrecipientsO Privatization: transfer the management of Social Security to the private sectorO Leave the program unchanged, resolve custs due in economic fluctuationsover three decadesO Cut payroll taxes to zero; unleash the US economy to make the programsolvent

The question is asking us to evaluate four different proposals to fix the Social Security system.…

Answered: One of the noted proposals to "fix"…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The table below shows the share of income going to each quintile of the income distribution for a nation in 1950 and 2000. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. The purple line represents 1950. The green line represents 2000. Share of income received 1950 2000 Bottom 20% 10% 5% Bottom 40% 30% 15% Bottom 60% 50% 35% Bottom 80% 75% 60% All 100% |100% 100% Provide your answer below: 110 100 -90 -80 (90, f0) (100, 70) 60 Perfect Equality (100,50) Year 2000 50 (80,50 Year 1950/ 40 (70, 30) 30 (50, 20) 20 (90, 20) 10 (60, 10) 60 80 Income Quintiles 20 40 100 -10 Cumulative Share of Income
pls solve all these questions within 10-15 minutes I'll give you multiple upvotes
A country has 50 million people, 30 million of whom are adults. Of the adults, 5 million are not interested in working, another 5 million are interested in working but have given up looking for work, and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to work full time, and the remaining 10 million are working full time. What is the country's underemployment rate?
The table below shows the share of income going to each quintile of the income distribution for a nation in 1960 and 2010. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. The purple line represents 1960. The green line represents 2010. Share of income received 1960 2010 Bottom 20% 10% 5% Bottom 40% 30% 10% Bottom 60% 45% 30% Bottom 80% 75% 60% All 100% 100% |100% Provide your answer below: 110 100- -90 -80 (90,0) -70 (100, 70) -60 Perfect Equality (100,50 Year 2010 -50 (80,50) Year 1960 40 (70, 30) 30- (50, 20) 20 (90, 20) 10 (60, 10) 80 100 Income Quintiles 20 40 60 -10 Cumulative Share of Income
Using the discussion of pay-as-you-go social security programs. explain how to derive the result that when n>r, this type of program is welfare-improving for all generations
PLZ JUST FILL IN THE BLANKS; ANSWER QUICK FOR GUARANTEED THUMBS UP!! 18. Sandy can work for a wage of $25 per hour up to a maximum of 480 hours per month. She faces a welfare system that pays a monthly benefit of $500. The benefit is reduced by 80% for each dollar of work income earned. What amount of employment income would reduce Sandy's welfare cheque to zero? $_
A Lorenz curve is a graph whose axes measure the: a. total amount of income in dollars on one axis and the total number of individuals or families receiving that income or a lower one on the other. b. percentage of people (10 percent, 20 percent, etc.) on one axis and the percentage of total income received by the lowest 10 percent, the lowest 20 percent, etc., on the other. c. number of individuals or families receiving a certain income on one axis and the percentage of the total population represented by that number on the other. d. number of individuals or families in different occupations on one axis and the median income received in that occupation on the other. e. income classes (e.g., $0 to $1999 and $2000 to $3999) on one axis and the percentage of individuals or families in each such income class on the other.
Using the above Lorenz Curve, answer the following questions. . . Approximately what percentage of the income does the richest 20% of Country B earn? Approximately what percentage of the income does the poorest 20% of Country A earn? If the government of Country B increased the progressivity of income taxes, would its Lorenz Curve move closer to the 45-degree reference line, closer to Country A's Lorenz Curve, or not move at all?
4. An economist produced the following Lorenz curves for the current income distribution and the projected income distribution 10 years from now in a certain country: Current Lorenz curve: f(x) = 0.15x+0.85x Projected Lorenz curve: g(x) = x'6 Compute the Gini index of income concentration ( to 2 decimal places ) for the current and projected curves. What can you say about the distribution of income 10 years from now? Is it more equitable or less?
The $1.4 billion trick to make us accept income inequality Lotteries take money from the poor and redistribute it unequally. The poor, the uneducated, and minorities play the lottery the most, and it takes a big chunk of their income Source: The Huffington Post, January 12, 2016 If the news clip is correct, how does a lottery change the distribution of income? Draw two Lorenz curves to ilustrate your answer. Lotteries result in the distribution of income Draw the Lorenz curve in a country that does not have lotteries. Label it Before Draw the Lorenz curve for the country after the introduction of lotteries. Label it After >> To reposition the label click on the cross by the label box and dragging it 100 80 60 40- 20 Cumulative percentage of income 100 20 40 60 00 Cumulative percentage of households >>> Draw only the objects specified in the question G
Policy Perspectives Refer to the table to answer one question. Income Transfers: The market mechanism might leave some people with too little income and others with too much. The government uses taxes and transfers to redistribute income more fairly. Program Recipient Group Number of Recipients Value of Transfers Social Security Retired and disabled 67 million $1,002 billion workers Medicare Individuals over age 65 59 million $620 billion Medicaid Medically needy 75 million $400 billion individuals Unemployment compensation Unemployed workers 6 million $30 billion Food stamps Low-income 42 million households $63 billion Eamed Income Tax Credit Low-wage workers 30 million $70 billion Temporary Aid to Needy Families Poor families 3 million $17 billion
Solve all questions compulsory.. 1. In addition to the benefits themselves, what other costs should be considered when debating the extension of UI? 2. Which argument do you find most convincing: that having longer access UI benefits reduces the imperative to accept a job, or that government has the responsibility to help those whose long job searches have not been successful? 3. What alternatives to extending UI benefits might support workers who cannot find jobs?

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