CONNECT F/MICROECONOMICS
21st Edition
ISBN: 2810022151240
Author: McConnell
Publisher: MCG
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Chapter 23, Problem 7DQ
To determine
The distribution of the income.
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Students have asked these similar questions
Which would be evidence of an increase in income inequality over time in the United
States?
O a decrease in the percentage of total personal income received by the highest quintile
O an increase in the percentage of total personal income received by the highest quintile
O an increase in the percentage of total personal income received by the four lowest quintiles
O an increase in the percentage of total personal income received by the lowest quintile
As income transfer programs accompanying the War on Poverty increased beginning in the latter half of the 1960s, what happened to poverty in the
United States? Check all that apply.
O The adjusted poverty rate has declined rapidly and is now less than half of the official poverty rate.
O The poverty rate declined substantially in the period before the War on Poverty, but not in the period after the start of the War on
Poverty.
O In 2018, the adjusted poverty rate was only 4 percentage points lower than the official rate in 1970.
O The War on Poverty has been largely ineffective in reducing the rate of poverty in the United States.
%24
A household with income that is two-thirds of the poverty threshold has ratio of income to poverty of
O 0.67.
O 1.50.
O 3.20.
O0.23.
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- "Growth and improvement in inequality are important to alleviate poverty.' а. Examine any FOUR (4) factors that can influence poverty eradication and income distribution in Malaysia. [12 marks] b. Describe any FOUR (4) factors that affect the income distribution in Malaysia.arrow_forwardThe government announces programs designed to reduce the share of income going to the top quintile from 60% to 20%. You predict that the most likely result is that: O mean household income will fall, because the highest income earners will earn less and work less. median household income will rise, because some of the 40% of redistributed income will be transferred to the third quintile. after redistribution, each quintile will receive 20% of total wealth. O the lowest quintile will receive the 40% taken from the top quintile and switch places.arrow_forwardQ7.1) The following question refers to income inequality and the Lorenz curve. Answer the question below: - Does it matter if some people are much richer than others?- Who are the top 1 percent in income and what are the effects of demography on socialinequality in various regions of the world today?- Why has income inequality worsened?- Does wealth distribution follow a similar pattern from generation to generation? What do experts say is the best way to shrink the wealth gap?arrow_forward
- Completed 15 out of 20 Submit All Question 9 of 20 If the poverty guideline for a family of four is $25,750, what is the most that a household can earn to be considered "near- poor"? O $19,312.50 O $12,875 O $32,187.50 O $25,750arrow_forward3) True or False questions: a) Two countries can have the same level of GDP and population size, but different levels of Inequality. b) Two countries can have different levels of GDP and population size, but the same level of inequality. c): The ethical principles of inequality measurement (anonymity, population, relative income and Dalton transfers) are enough to compare any two income distributions in terms of relative inequality. [Hint: consider part e) in question 1 above] To mlate the GIarrow_forwardConsider the following table that gives the monthly per capita consumption expenditure of 10 households with poverty line given as $500 per month. Poverty Gap is %. Monthly per capita consumption expenditure (in $) of 10 households 5 400 300 1000 2500 4 9 400 950 2 3 6 7 8 10 Country A 900 1200 505 100 O a 40 O b. 13 O c. 27 O d. 16arrow_forward
- The area between the Lorenz curve of a country and the diagonal of perfect equality represents: O A. the area of equality. ОВ. the area of inequality. C. The Gini coefficient. O D. The quantile ratio. O E. the cumulative percentage of the population.arrow_forwardA5arrow_forward3. Suppose that there are two countries with dif- ferent levels of total factor productivity, and that these differences exist because of barriers to technology adoption in the low-productivity country. Also suppose that these two countries do not trade with each other. Now, suppose that residents of each country were free to live in either country. What would happen, and what conclusions do you draw from this?arrow_forward
- -what are some of the dimensions of economic inequality and what is considered income?arrow_forwardIf there are two communities, one with ten families have incomes of $100,000 each and ten families have incomes of $20,000 each. In the other community, ten families have incomes of $250,000 each and ten families have incomes of $25,000 each. Which community is the distribution of income more unequal? In which community is the problem of poverty likely to be worse?Which distribution of income would Rawls prefer? Explain.Which distribution of income do you prefer? Explain.Why might someone have the opposite preference?arrow_forward10. Consider the following distribution of income in a 12-person economy, with the modern urban wage 3, the traditional rural income = 1, and the informal urban wage = 2: (1,1,1,1,2,2,2,2,3,.3,3,3). The poverty line through expanded agricultural exports. What happens to relative inequality? Absolute poverty? Calculate the Ahluwalia-Chenery welfare index for terciles (3 fractiles) under GNP weights and equal weights. Why is the equal-weighted index higher? 1.25. Suppose rural incomes are raised to 1.5arrow_forward
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