See HintSuppose that the income of the average person among the poorest 20% of citizens in South Africa is $900. What is the average incomeof a person who is among the richest 20% of citizens in South Africa? Round to the nearest dollar. S

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Answered: See Hint Suppose that the income of the…

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter2: The Economy: Myth And Reality

Section: Chapter Questions

Problem 3DQ

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Who are the near-poor?
1. write a short essav tha summarizes the problems by which the official poverty rate is determined.2. Sit down with some classmates and estimate what a family of four (two parents, two voung children) in your area would have to day annually for food. clothing. shelter. energy, and other necessities of lite. What figure do you end up with? How does this sum ot money compare with the official poverty line of 22,213 in 2010 for a family of four?3. Why do you think the maiority of Americans assume poor people lack the motivation To WORK4. Explain to a friend how labor force participation data indicate that it is inaccurate to think that poor people lack the motivation to work.
What is meant by factor Income to abroad? State it's components
Be proper specifuc
The figure below shows the distribution of income across and within countries in 2014. The height of each bar represents the annual income of the population (for each decile), measured in 2005 US$, while the width of each country's bar represents its population. The red countries were the poorest countries in 1980, while the green countries were the richest in 1980. 80,000 60,000- 40,000- 20,000- India Nigeria Indonesia Botswana China Brazil Japan US UK Norway Poorer countries 2014 Richer countries Annual income (2005 $ PPP)
The ratio of income of the richest fifth of the population to the income of the poorest fifth for the U.S. is?
What is true about income redistribution? Questic OA. Through income tax and redistribution, a dollar taken from a rich person ends up as a dollar in the hands of a O B. Taxing people's income from employment makes them work more so that their take-home income will increase O C. The greater the amount of income redistribution through income taxes, the greater is the inefficiency. OD. The big tradeoff is the tradeoff between income tax and redistribution.
When recording devices were first invented morethan 100 years ago, musicians could suddenly supplytheir music to large audiences at low cost. How doyou suppose this development affected the income ofthe best musicians? How do you suppose it affectedthe income of average musicians?
12. Assume that the absolute poverty line is $120 in Pakistan. The total population of Pakistan is 194 million and the number of people in Pakistan whose incomes fall below the absolute poverty line is 102 million. The headcount ratio or headcount index of Pakistan is: a. 52.6% b. 190% c. 1.90% d. .526%
A group 0f 10 people have the following annual incomes: 24,000,18,000,50,000,100,000,12,000,36,000,80,000,10,000,24,000,16,000. Calculate the share of total income that each quintile receives from this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution?
Why is there reluctance on the part of some in the United States to redistribute income so that greater equality can be achieved?

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See Hint Suppose that the income of the average person among the poorest 20% of citizens in South Africa is $900. What is the average income of a person who is among the richest 20% of citizens in South Africa? Round to the nearest dollar. S