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The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2001, the poverty line is set at an annual income of $47,000 for an individual. Year 2001 2007 2013 2019 88°F Sunny Lowest Quintile Second Quintile 4.0 3.7 3.4 Share of Total Income in Perkopia (Percent) Middle Quintile Fourth Quintile Highest Quintile 3.0 10.0 9.6 9.4 7.7 The data in the table suggest that there was 17.0 15.4 14.8 14.0 23.0 22.5 22.4 21.8 46.0 48.8 50.0 53.5 income inequality from 2001 to 2019. Complete the following table to help you determine the poverty rate in Perkopia in 2001. To do this, begin by determining the total income of all individuals in each quintile using the fact that total annual income in the economy is $500,000,000. Next, determine the income of an individual in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recall that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poverty line of $47,000.

The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2001, the poverty line is set at an annual income of $47,000 for an individual. Year 2001 2007 2013 2019 88°F Sunny Lowest Quintile Second Quintile 4.0 3.7 3.4 Share of Total Income in Perkopia (Percent) Middle Quintile Fourth Quintile Highest Quintile 3.0 10.0 9.6 9.4 7.7 The data in the table suggest that there was 17.0 15.4 14.8 14.0 23.0 22.5 22.4 21.8 46.0 48.8 50.0 53.5 income inequality from 2001 to 2019. Complete the following table to help you determine the poverty rate in Perkopia in 2001. To do this, begin by determining the total income of all individuals in each quintile using the fact that total annual income in the economy is $500,000,000. Next, determine the income of an individual in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recall that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poverty line of $47,000.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Which of the following statements are correct select all that apply. Amy would gain more income by turning down overtime then she would if she accepted the over time Amy may accept the over time if she feels that taking it will increase the chances of her receiving a significant promotion. The $5000 in aid presents a distinctive for Amy to make note that $47,000 per year
The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2001, the poverty line is set at an annual income of $47,000 for an individual. Year 2001 2007 2013 2019 88°F Sunny F1 Lowest Quintile Second Quintile O 4.0 3.7 3.4 3.0 The data in the table suggest that there was F2 -0- @ Share of Total Income in Perkopia (Percent) Middle Quintile Fourth Quintile Highest Quintile F3 :0+ 10.0 # 9.6 9.4 7.7 Complete the following table to help you determine the poverty rate in Perkopia in 2001. To do this, begin by determining the total income of all individuals in each quintile using the fact that total annual income in the economy is $500,000,000. Next, determine the income of an individual in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recall that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poverty line of $47,000. O F4 59 $ 17.0 15.4 F5 14.8 14.0 ▬▬ T 23.0 22.5 % 22.4 income inequality from 2001 to 2019. F6 21.8 46.0 48.8 50.0 53.5 F7 A F8 & F9 * F10 O F11 28 F12 Fn Lock 11 Insert Prt Sc 12:15 PM 7/1/2022 De
Transcribed Image Text:The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2001, the poverty line is set at an annual income of $47,000 for an individual. Year 2001 2007 2013 2019 88°F Sunny F1 Lowest Quintile Second Quintile O 4.0 3.7 3.4 3.0 The data in the table suggest that there was F2 -0- @ Share of Total Income in Perkopia (Percent) Middle Quintile Fourth Quintile Highest Quintile F3 :0+ 10.0 # 9.6 9.4 7.7 Complete the following table to help you determine the poverty rate in Perkopia in 2001. To do this, begin by determining the total income of all individuals in each quintile using the fact that total annual income in the economy is $500,000,000. Next, determine the income of an individual in each quintile by dividing the total income of that quintile by the number of people in that quintile. (Hint: Recall that Perkopia has a population of 10,000 people.) Finally, determine whether the individual income for each quintile falls below the poverty line of $47,000. O F4 59 $ 17.0 15.4 F5 14.8 14.0 ▬▬ T 23.0 22.5 % 22.4 income inequality from 2001 to 2019. F6 21.8 46.0 48.8 50.0 53.5 F7 A F8 & F9 * F10 O F11 28 F12 Fn Lock 11 Insert Prt Sc 12:15 PM 7/1/2022 De
Quintile Lowest Second Middle Fourth Highest Esc Using the information in this table, the poverty rate in Perkopia in 2001 is Share of Income in 2001 (Percent) 4.0 10.0 17.0 23.0 46.0 88°F Sunny In the year 2001, the poverty rate after the introduction of the welfare program in Perkopia is Which of the following statements are correct? Check all that apply. F1 1 Suppose that the government introduces a welfare program in which any individual with an income of less than $47,000 per year receives a lump-sum transfer payment of $5,000 from the government. Assume that, in the short run, there is no change in labor-supply behavior among the people in Perkopia. O Again, suppose the government introduces a welfare program in which any individual with an income of less than $47,000 receives a lump-sum transfer payment of $5,000 from the government. Amy, a resident of Perkopia who currently earns an income of $46,898, has the opportunity to work overtime and earn an additional $1,700 this year. F2 -0- Total Income (Dollars) @ 2 F3 :0+ Amy would gain more income by turning down the overtime than she would if she accepted the overtime. #m 3 F4 SA $ 4 Individual Income F5 ▬▬ ▬▬▬ (Dollars) % 5 OL F6 F7 Below Poverty Line? A 6 J- ¡ - Y F8 ▼ & 7 ( F9 & * 8 F10 -0. ( a F11 F12 2 Fn Lock + Insert Prt Sc 12:16 PM 7/1/2022 Del Backspace
Transcribed Image Text:Quintile Lowest Second Middle Fourth Highest Esc Using the information in this table, the poverty rate in Perkopia in 2001 is Share of Income in 2001 (Percent) 4.0 10.0 17.0 23.0 46.0 88°F Sunny In the year 2001, the poverty rate after the introduction of the welfare program in Perkopia is Which of the following statements are correct? Check all that apply. F1 1 Suppose that the government introduces a welfare program in which any individual with an income of less than $47,000 per year receives a lump-sum transfer payment of $5,000 from the government. Assume that, in the short run, there is no change in labor-supply behavior among the people in Perkopia. O Again, suppose the government introduces a welfare program in which any individual with an income of less than $47,000 receives a lump-sum transfer payment of $5,000 from the government. Amy, a resident of Perkopia who currently earns an income of $46,898, has the opportunity to work overtime and earn an additional $1,700 this year. F2 -0- Total Income (Dollars) @ 2 F3 :0+ Amy would gain more income by turning down the overtime than she would if she accepted the overtime. #m 3 F4 SA $ 4 Individual Income F5 ▬▬ ▬▬▬ (Dollars) % 5 OL F6 F7 Below Poverty Line? A 6 J- ¡ - Y F8 ▼ & 7 ( F9 & * 8 F10 -0. ( a F11 F12 2 Fn Lock + Insert Prt Sc 12:16 PM 7/1/2022 Del Backspace
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