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 therichest in 1980.80,00060,000-40,000-20,000-IndiaNigeriaIndonesia Botswana ChinaBrazilJapanUSUK NorwayPoorer countries2014Richer countriesAnnual income (2005 $ PPP) Based on the frgure, which one of the following statements is true?O Since 1980, Indonesia's average income has grown faster than India's average income.O The income ranking between countries has remained broadly the same between 1980 and 2014.The US has the highest average annual income of any country in the figure.O Income inequality is higher in Norway than in the US.

The income earned by people is represented by the height, while the population is represented by the…

Answered: The figure below shows the distribution…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Economic growth is said to be a necessary but not sufficient condition to eradicate absolute poverty and reduce inequality. What is the reasoning behind this argument?
With all its natural resources, why does Africa remain the poorest continent in the world
According to World Bank (2012), in Ethiopia, the poorest 20 percent of population received 9.3 percent of income or consumption and the richest 20 percent of population received 39.4 percent of income or consumption; in South Africa, the poorest 20 percent of population received 2.7 percent of income or consumption and the richest 20 percent of population received 68.2 percent of income or consumption. What conclusion can we reach based on the above statistics?
Describe what is meant by The Demographic Transition?
What is productivity level and what does it "measure". Consider that each member of your group is an average worker. Worker 1 is from Canada and has a productivity level of $30 per hour. Worker 2 is from the United Kingdom and has a productivity level of $25 per hour. Worker 3 is Australia and has a productivity level of $27.50 per hour. Worker 4 is from Sweden and has a productivity level of $33 per hour. All productivity levels are measured in U.S. dollars. Consider the following over the next 5 years: - Worker #1 - productivity grows at 1.5% per year - Worker #2 - productivity grows at 2.5% per year - Worker #3 – productivity grows at 3% per year - Worker #4 - productivity grows at 4% per year. After 5 years explain who will have the highest productivity level and by how much.?
Explain the relation of each and every box with the next box in separate elaborative points. And in the end, also give a summary that how this causes poverty trap. POVERTY TRAP Low level of education Low economic and health growth care Development Low levels of human capital Growth Low Low investment income Low Low productivity saving
Why does the HUMAN DEVELOPMENT INDEX not include dimensions of participation, gender and equality?
The "middle-income trap" usually takes place at about this level of GDP per capita: $1,000 pc $50,000 pc $4000–$5,000 pc $40,000 pc
I agree, relationships and work are said to be the cornerstones of being human and both are very important for happiness. Yet juggling the demands of each can be difficult. Having a good work life balance is essential to healthy living. Good point, I was not expecting Switzerland to be among the wealthiest of countries, either. I also would like to see the social inequality score decrease. I think a good start would be to invest in better public education, provide better access to affordable healthcare, and establish better economic policies to promote job growth, and economic mobility ensuring that everyone has access to the same opportunities. I agree, I believe Better Life Index is a very resourceful tool. Better Life Index does give clearer visualization for communities as whole. From the illustrations I gathered we collectively do want to help build a better lifestyle. That’s true! Wheelan's quote is a great reminder of the importance of economics in our lives. Economics is a…
Which of the following groups has the fastest-growing population in the United States? a. Households headed by female members b. Households headed by married couples c. Households headed by male members d. Households headed by Hispanics e. Households headed by African Americans
We measure standards of living using GDP per capita. Using the production function, which of the following factors does NOT help to explain differences in GDP per capita between countries: human capital per worker productivity inflation rates physical capital per worker
1 The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita (2010 U.S. dollars) in France, Japan, the United Kingdom, and Canada in 1970 and 2019. Complete the table. Have these countries reduced the income gap with Canada? 1970 2019 Real GDP per capita (2010 U.S. dollars) Percentage of Canada’s real GDP per capita Real GDP per capita (2010 U.S. dollars) Percentage of Canada’s real GDP per capita France $1,985 ? $44,317 ? Japan 18,700 ? 49,188 ? United Kingdom 17,923 ? 43,688 ? Canada 22,844 ? 51,589 ?

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