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- The graph on Slide 126 of Part 3.1.1 (income dimensions) shows that if the linear trend since 1980 continues, Sustainable Development Goal 1 will be achieved by 2025. What is SDG1, and why might this linear projection be unrealistic? Poverty rate (%) A linear projection suggests World less HICS that SDG1 will be achieved World 2015 9.98 11.59 2013 11.2 13.05 2012 12.79 14.95 2011 13.72 2010 15.73 60 16.05 18.45 2008 18.16 21.36 Rate of decline of about 2005 20.71 24.42 50 2002 25.49 30.16 1% point per year 1999 28.62 33.98 1996 29.44 35.09 40 1993 33.99 40.69 43.17 42.76 1990 35.88 1987 35.33 30 1984 39.23 47.8 1981 42.12 51.7 Source: PovcalNet (World Bank) • World 10 • World less high-income countries Reaches zero in 2025 => 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 Poverty rate ($1.90 per day) 20Please help me respond to the following question with graphs: Suppose there is a reduction in income taxes. For a given worker, how willafter-tax income be affected?Evaluate four policies the government may use to increase the full employment level of national output (i.e. LRAS shift).
- This question is based on the following chart below. 1999 Avg 1977 Avg Income Income Group Income Lowest fifth $10,000 $8,000 Second fifth $22,100 $20,000 Middle fifth $32,400 $31,400 Fourth fifth $42,600 $41,500 $74,000 $102,300 Highest fifth Top 1% $234,700 $515,600 Source: Center on Budget and Policy Priorities (CBPP) The Center on Budget and Policy Priorities (CBPP) breaks the U.S. population into fifths based on the after-tax household income level. Which conclusion can be drawn based on the facts in this chart comparing 1999 to 1977 average income? A. The middle-fifth income group demonstrated more of an increase than the lowest- fifth in earnings. B. The highest-fifth income group demonstrated the greatest increase in earnings. C. Only two income groups demonstrated a decline in earnings. D. All income groups increased their average incomes in 1999. E. The top 1% income group's earnings increased more than that of the other income groups.True/False Questions 1. When the government redistributes income with taxes and welfare, the economy becomes more efficient.What is the impact of the rising cost of living on low-income communities (B40) in Kedah
- To combat income inequality and to generate increased tax revenues to fund expenditures, government officials decide to aggressively increase how progressive income taxes are, so much so that the top income earners are marginally taxed 90% of their income (and while this marginal tax rate may seem oppressive, these top income earners still have more than enough income to satisfy all of their needs and all but the most extravagant of wants - basically, these earners have more than enough money). Argue why this tax policy is a fair approach to fund government expenditures. Why might this tax policy fail to achieve its objectives (tax revenues would actually decline as a result)?Types of Circular Flow of Income in Economics.Why does Kuznets curve not hold when country-level panel data is used and why does it not a causal relationship between income and inequality when cross-section data is used?
- The FGT0 measure does not reflect the depth of poverty below the poverty line. [6] (i) Suggest a specific income transfer within this economy that demonstrates this limitation of FGT0. Take $1 from person 2 and give it to person 4. This makes person 2 poorer in absolute terms, but does not change FGT0. (ii) Compute FGT0 after the transfer. Still 3/6. (iii)Discuss why this feature limits how useful FGT0 is as a measure of poverty. FGT0 is not able to capture changes among the poor. For example, the desperately poor could become much better off and, as long as they weren’t so much better off that they cross the poverty line, we would see no improvement in poverty as measured by FGT0.Please answer 1, 2, and 3! Susan is a single mother with three children. She can earn $8 per hour and works up to 2,000 hours per year. However, if she does not earn any income at all, she will receive government benefits totaling $16,000 per year. For every $1 of income she earns, her level of government support will be reduced by $1. The table below is patterned after Table 15.8 from the text. Number of Work Hours Earnings from Work Government Benefits Total Income 2000 $16,000 $0 $16,000 1600 $16,000 1200 $16,000 800 $16,000 400 $3200 $12,800 $16,000 0 $0 $16,000 $16,000 Complete the table. Is this program an example of a poverty trap? Explain your answer. If this program is an example of a poverty trap, how can this program be altered to avoid this problem?At Charlic's bakery, the MPL, is -12. Does this mean her average product must also be negative? Explain your answer.