Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 20, Problem 2QCMC
To determine
The comparison of income inequality between US and other countries.
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(a) Suppose that your professor asks you to compare China and India based on income inequality. Which measure would you use and explain how would
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(b) Suppose that your professor asks you to compare China and India based on economic development. Which measure would you use and explain how
would you determine which country is dbing better based on the chosen measure?
The ratio of income of the richest fifth of the population to the income of the poorest fifth for the U.S. is?
How do gains in income inequality influence economic growth and expenditure rates?
Chapter 20 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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- Match the scenario/description provided to the the type of poverty OR human development issue to which it best applies. absolute poverty - A. B. C. D. E. Human development issue - A. B. C. D. E. subjective poverty - A. B. C. D. E. relative poverty A. Mary won 1K in a scratch off. She has bunch of credit card debt. She knows she should use the 1000 for that, but she never gets to have special things so she bought herself a Louis Vuitton, and said to heck with bills. B. Mary set up a tent-like shack beside the river for her and her family to live because they didn’t have any housing. It was swept away unexpectedly with jer and her family inside when the river dam was opened by the authorities in the area. C. Mary is one of the one billion…arrow_forwardWho is affected by economic inequality?arrow_forwardAbsolute poverty may differ from country to country by a. income brackets b. health metrics c. composition of goods d. social security of every individual e. monetary amountarrow_forward
- Economists experience difficulties in accurately measuring income inequality because of which of the following? Choose one or more: A. The Gini index calculation discriminates against the poor in developed economies. B. Government programs are inefficient and difficult to monitor. C. large, underground economies that lack the reporting of income to the government D. Measurements tend to use "before tax" income, not "after tax" income (disposable income), which is the income people actually have available to purchase goods and services. E. The population size of an economy impacts the distribution of data, causing large economies to show more inequality than smaller economies. F. do-it-yourself production of goods and services (such as growing own food or making own clothing) that are not bought or sold in the market G. in-kind transfers where goods and services are given as aid to the poor instead of casharrow_forwardChoose a country of your choice and answer the following questions: I) is there any income inequality? Explain. ii) Is there a equality in income distribution?arrow_forwardFrom comparisons of income distribution studies over time, it generally appears that A. income is more evenly distributed in the richer nations. B. there are few variations in income distribution among developed and developing nations. C. comparisons over time demonstrate that income redistribution changes relatively quickly, so older data have limited value. D. the middle quintiles in most nations are growing at the expense of the bottom 20 percent. E. income inequality decreases in the early stages of development and reverses in the later stages.arrow_forward
- Discuss some methods of measuring poverty and inequality. How can public policy be used to alleviate poverty and reduce inequality in Pakistan?arrow_forwardMatch the scenario/description provided to the the type of poverty OR human development issue to which it best applies. - A. B. C. D. E. relative poverty - A. B. C. D. E. subjective poverty - A. B. C. D. E. human development index - A. B. C. D. E. absolute poverty A. Mary’s newborn has diarrhea. He can’t get well and is very dehydrated. Mary doesn’t realize that the water they have access to is part of the problem. The next morning, she finds her baby unconscious. B. Mary is traveling to Kenya to see her relatives during summer break from college. C. There isn’t any running water in the house, so Mary uses a bucket and some of the water she got from the drinking fountain at…arrow_forwardMatch the scenario/description provided to the the type of poverty OR human development issue to which it best applies. - A. B. C. D. E. absolute poverty - A. B. C. D. E. subjective poverty - A. B. C. D. E. human development issue - A. B. C. D. E. relative poverty A. Mary’s SNAP card is almost empty and there’s too much month left for the money. The kids are just going to have to eat plain noodles for supper with no bologna in it this time. B. Oprah Winfrey built a network of schools in Kenya to help provide educational resources to Mary and other girls in the area. The hope is that generational poverty and preventable diseases will decrease over time. C. Mary was hoping…arrow_forward
- 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.arrow_forwardWhich of the following statements are true about income inequality? Choose all that apply. A. Income inequality in the United States can be largely blamed on corruption. B. Extreme income inequality can be harmful to society C. Income inequality in the United States has improved dramatically over the last few decades D. Income inequality will likely always exist in free societies with free marketsarrow_forwardWhy is an increase in income alone not sufficient in improving health and education objectives?arrow_forward
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