2 Which statement is correct?Select one:O a. The Gini coefficient ranks the U.S. 4th highest in income inequality among the richest OECD nations.O b. The Gini coefficient for the US has slowly fallen since 1968.O c. The U.S. Gini coefficient of 48 compared to Sweden's 27 means the U.S. is more equal than Sweden.Od. The closer the Gini coefficient to one, the more equal society.Black households were not able to accumulate wealth after WWII like their white counterparts due mostly toSelect one:O a. Institutional racism (discrimination in housing and lending by banks, segregated and/or inferioreducation, and employment discrimination).Ob. Black households did not save enoughOc Black households did not value education,O d. Black households chose to work less hours

Which statement is correct? Select one: O a. The Gini coefficient ranks the U.S. 4th highest in income inequality among the richest OECD nations. O b. The Gini coefficient for the US has slowly fallen since 1968, Oc. The U.S. Gini coefficient of 48 compared to Sweden's 27 means the U.S. is more equal than Sweden. Od. The closer the Gini coefficient to one, the more equal society.

Which statement is correct? Select one: O a. The Gini coefficient ranks the U.S. 4th highest in income inequality among the richest OECD nations. O b. The Gini coefficient for the US has slowly fallen since 1968, Oc. The U.S. Gini coefficient of 48 compared to Sweden's 27 means the U.S. is more equal than Sweden. Od. The closer the Gini coefficient to one, the more equal society.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter33: Income, Income Distribution, And Poverty

Section: Chapter Questions

Problem 12E

See similar textbooks

Similar questions

Don't use chatgpt Q1. Why might international trade reduce measured inequality in the United States? How has international trade contributed in economic growth for the U.S.A and other countries?
When comparing income and wealth inequality among "Western" industrial societies globally, the U.S. falls in the middle of the pack. False; we have more income inequality than most similar countries but not wealth inequality. False; we have significantly greater inequality in terms of both wealth and income. True False; we have more wealth inequality than most similar countries but not income inequality.
“According to the World Bank, South Africa remains a dual economy with one of the highest inequality rates in the world, with a Gini Coefficient of 0.643.” Explain in depth: A discussion relating to the attributes that make the Gini coefficient a desirable means of measurement; • Explain the implications of a Gini Coefficient of 0.643 relating to the South African economy, retail sector and brand of the organisation. Derive practical examples from the Lorenz curve to substantiate your explanation.
Despite its wealth and high educational levels, the UnitedStates has been less successful in closing its gender gap thanNordic countries such as Iceland and Finland. T or F?
Select all facts about the evolution of inequality in the world between 1960 and 2017? U Inequality at the individual level has decreased. The proportion of poor countries has increased. Inequality at the individual level did not increase as much as inequality at the country level. Inequality of the real per capita GDP across countries has increased. Inequality at the individual level has increased. The proportion of poor countries has decreased. Inequality of the real per capita GDP across countries has decreased. Inequality at the individual level did not decrease as much as inequality at the country level.
Assume there are two countries: South Korea and the United States. South Korea grows at 4 and the United States grows at 1. For the sake of simplicity, assume they both start from the same fictional income level, 10,000. What will the incomes of the United States and South Korea he in 20 years? By how many multiples will each countrys income grow in 20 years?
No written by hand solution Suppose there are two sectors, call them A [agriculture] and M [manufacturing]. People earn say $5 an hour in agriculture and $10 an hour in manufacturing. Suppose we are interested in the share of the bottom 40% and the richest 20%. Let x be the share of people in manufacturing. Derive a formula that gives you the shares of income earned by the lowest 40% of the population and the richest 20% of the population as a function of x. This is a connection between structural transformation and the behavior of inequality.
Suppose that there are two sectors in the economy the first sector employsskilled labor and unskilled labor for production while the second sector employs unskilled labor and land for production. The only mobile factor is unskilled labor and in the short run, skill accumulation is not feasible. All factors are constant in size and there is no unemployment for any factor. -Explain about change in income distribution after trade liberalization ifthe price for the first good increases after opening up to trade while the pricefor the second good stays fixed?
Explain how a country may experience greater equality in the distribution of income, yet still experience high rates of poverty Hint: Look at the Clear It Up "How is poverty measured in low-income countries?" and compare to Table 14.5. Table 14.5
50. Which of the following statements are true regarding the worldwide redistribution of wealth? Choose all that apply. O From 1990 to 2010, China's economy grew 1,300 percent. As more of the world's economic growth comes from less developed nations, high-income nations, such as the United States, are losing their higher standard of living. Most developing nations-even those with high levels of political corruption-have seen dramatic growth. O From 1990 to 2010, the percentage of people worldwide who were living below the absolute poverty line was halved.
True or false: An increase in the share of income earned by the top half of the income distribution implies that the bottom half’s share and per capita income both decreased. (Be sure to address both “share” and “per capita income.”).
a. What is the Gini Coefficient and how is it useful for a third world country.b. Using the following information provided in the table below, calculate the Gini coefficient for Algura. Population 10 32 15Income per month per person 2000 96000 1500Total Population 57 c. Calculate the new Gini Coefficient for Algura when income changes as follows: Population 10 32 15Income per month per person 1200 78000 900Total Population 57 d. As an economist what are some policy recommendation to improve the Gini coefficient for Algura. Do you think enough information was provided to make recommendation Explain,