QUESTION 1 Distribution of Income in Imagination Number of Families Income Range 23,500 less than $18,000 Average Income $15,890 42,410 between $18,000 and $36,000 $27,450 57,330 between $36,000 and $54,000 $46,220 63,490 between $54,000 and $72,000 $65,000 24,770 23,500 between $72,000 and $90,000 more than $90,000 $80,790 $118,750 If the poverty line in Imagination is $18,000, the poverty rate is If the poverty rate in Imagination is 25%, the poverty line is The Human Development Report computes a measure of inequality by dividing the income of the richest 10% of the population by the income of the poorest 10%. The value for this measure of inequality in the US is 15.9 and the value for India is 8.6. We can conclude that distribution of income than the U.S. and a Imagination has a distribution of income than India. 0.5 points
QUESTION 1 Distribution of Income in Imagination Number of Families Income Range 23,500 less than $18,000 Average Income $15,890 42,410 between $18,000 and $36,000 $27,450 57,330 between $36,000 and $54,000 $46,220 63,490 between $54,000 and $72,000 $65,000 24,770 23,500 between $72,000 and $90,000 more than $90,000 $80,790 $118,750 If the poverty line in Imagination is $18,000, the poverty rate is If the poverty rate in Imagination is 25%, the poverty line is The Human Development Report computes a measure of inequality by dividing the income of the richest 10% of the population by the income of the poorest 10%. The value for this measure of inequality in the US is 15.9 and the value for India is 8.6. We can conclude that distribution of income than the U.S. and a Imagination has a distribution of income than India. 0.5 points
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:QUESTION 1
Distribution of Income in Imagination
Number of Families
Income Range
23,500
less than $18,000
Average Income
$15,890
42,410
between $18,000 and $36,000
$27,450
57,330
between $36,000 and $54,000
$46,220
63,490
between $54,000 and $72,000
$65,000
24,770
23,500
between $72,000 and $90,000
more than $90,000
$80,790
$118,750
If the poverty line in Imagination is $18,000, the poverty rate is
If the poverty rate in Imagination is 25%, the poverty line is
The Human Development Report computes a measure of inequality by dividing the income of the richest 10% of the population by the
income of the poorest 10%. The value for this measure of inequality in the US is 15.9 and the value for India is 8.6. We can conclude that
distribution of income than the U.S. and a
Imagination has a
distribution of income than India.
0.5 points
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education