Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 12, Problem 2SQ
To determine
The percentage of income earned by the highest fifth of all families.
Option 'd' is correct.
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What can be considered a benefit? Choose all that apply.A. salary
B. wage
C. pension
D. health care insurance
23. Arnold, Betty, Christine, Donald, and Elena receive incomes of $0, $400, $200, $100, and $300. Starting with the top 20% of the population, write in the correct income share in percentages. Then in a line below it, write in the income share for the second 20%. In another line write in the income share for the middle 20%, then on another line, the income share for the fourth 20%, and finally the income share for the bottom 20%. Please state your answers in percentages for full credit. You do not have to show your calculation.
population share income share
top 20% ______________
2nd 20% ______________
mid 20% _____________
4th 20% _____________
bottom 20% _____________
24. Based on your answers in question #23, fill in the cumulative income distribution table using percentages. Please start with…
Where do most people's largest portion of their personal income comes from?
Chapter 12 Solutions
Micro Economics For Today
Ch. 12.2 - Prob. 1YTECh. 12.2 - Prob. 2YTECh. 12.5 - Prob. 1.1YTECh. 12.5 - Prob. 2.1YTECh. 12 - Prob. 1SQPCh. 12 - Suppose each family in the United States earned an...Ch. 12 - Prob. 3SQPCh. 12 - Prob. 4SQPCh. 12 - Prob. 5SQPCh. 12 - Prob. 6SQP
Ch. 12 - Prob. 7SQPCh. 12 - Prob. 8SQPCh. 12 - Prob. 9SQPCh. 12 - Prob. 10SQPCh. 12 - Prob. 11SQPCh. 12 - Prob. 1SQCh. 12 - Prob. 2SQCh. 12 - Prob. 3SQCh. 12 - Prob. 4SQCh. 12 - Prob. 5SQCh. 12 - Prob. 6SQCh. 12 - Prob. 7SQCh. 12 - Prob. 8SQCh. 12 - Prob. 9SQCh. 12 - Prob. 10SQCh. 12 - Prob. 11SQCh. 12 - Prob. 12SQCh. 12 - Prob. 13SQCh. 12 - Prob. 14SQCh. 12 - Prob. 15SQCh. 12 - Prob. 16SQCh. 12 - Prob. 17SQCh. 12 - Prob. 18SQCh. 12 - Prob. 19SQCh. 12 - Prob. 20SQ
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Similar questions
- What is the relation between income and life expectancies?arrow_forwardeconomicarrow_forwardUse the table related to the size distribution of household income to answer the following questions. Share of Total Income Income Group Highest fifth Second fifth Third fifth 2019 Income Above $142,000 $86,001-$142,000 $54,001-$86,000 Average Income $ 254,400 51.9% 111,100 22.7 68,900 14.1 Fourth fifth Lowest fifth $28,001-$54,000 0-$28,000 40,700 8.3 15,300 3.1 ok According to the table: ences Instructions: In part a, enter your response as a whole number. In part b, round your response to one decimal place. a. What is the average household income in the United States? 98080 b. What percentage of the average household income of people in the highest fifth would have to be taxed away to bring them down to that average? %arrow_forward
- 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?arrow_forwardSavings - dental Social needs my brother's 1st birthday B. Interview any member of the family. Ask about the sources of family income. Then, identify the sources of income according to its type. Write it in a piece of paper following this format: Family Member Source of Family Income Type of Family Income Example: Fees from service-doing Money income mother laundry for othersarrow_forwardWhat's the meaning of incomearrow_forward
- 5 Which philosopher's ideas would promote policies that favor the greatest use of income redistribution? O Jagdish Bagwati O Max Lorenz O Robert Nozick O John Rawls Unit 7- Chapter 1..xlsx 3 Unit 7- chapter 1..xlsx Topic 2 (2).docx Topic 2 (1).docx 11:06 PM 73°F ENG 12/8/2021 SU brt sc delete end F12 LL f8 144 63 15 backspace unu lock D. 55 enter A. () pause ↑ shiftarrow_forwardWhich factor affects health? Income Education Medical care All of the abovearrow_forwardIncome redistribution a. may help some individuals, but does not increase social welfare. b. may increase social welfare and has no effect on efficiency. c. may increase social welfare as long as there is no reduction in efficiency. d. may increase social welfare and reduce efficiency.arrow_forward
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