Economics: Private and Public Choice
16th Edition
ISBN: 9781337642224
Author: James D. Gwartney; Richard L. Stroup; Russell S. Sobel
Publisher: Cengage Learning US
expand_more
expand_more
format_list_bulleted
Question
Chapter 28, Problem 4CQ
To determine
Perfect equality of opportunity and absence of intergenerational mobility.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Inter-generational income mobility tells us about:
A) the extent to which the tax and transfer system reduced inequality
B) the relationship between parent and child incomes
C) none of the answers
D) the persistence of income inequality over the lifecycle
How do these trends differ from wealth and income distribution during the previous 70 years and why have they changed?
In a society with 240,000 households, 10,000 households earn $4 each, 4,000 households earn $2 each, 10,000 households earn $10 each, and the rest earn $1 each.What is the income share of the third quintile? (Not the cumulative income share, just the share of that quintile.) Please write down the answer with two decimal points in percentage form without the % sign. XX.xx, NOT XX.xx%
Chapter 28 Solutions
Economics: Private and Public Choice
Knowledge Booster
Similar questions
- What are the major changes of the global distribution of income from 1980 to 2022, with figures, including both within country and between country inequality?arrow_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_forwardMigration and income inequality is negatively related. Explain.arrow_forward
- Explain why comparing educational attainment across immigrant generations and across countries of origin is complicated and can lead to misleading estimaes of intergenerational mobility?arrow_forwardThe following table shows the approximate income distribution for Peru, Bulgaria, and Lithuania in 2016. In particular, it shows the income shares of each fifth of the income distribution. Percentage Share, 2016 Percentage of Families Peru Bulgaria Lithuania Lowest fifth 4 9 7 Second-lowest fifth 8 14 12 Middle fifth 12 17 16 Second-highest fifth Highest fifth 20 22 22 56 38 43 has the most total income. On the following graph, plot the Lorenz curves for the three countries. Plot Peru's Lorenz curve using the green points (triangle symbol), Bulgaria's Lorenz curve using the blue points (circle symbol), and Lithuania's Lorenz curve using the purple points (diamond symbol). Be sure to plot the first point of each Lorenz curve at (0,0). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. CUMULATIVE PERCENTAGE OF MONEY INCOME graph.) 20 100 20 40 60 80 100 CUMULATIVE PERCENTAGE OF FAMILIES Peru Bulgaria Lithuania…arrow_forwardFor the last ten years, how the Philippine government is executing policies to reduce poverty and income inequality for the last decade? Expand your answer.arrow_forward
- Explain how our economic transition is affecting the national income distribution.arrow_forwardWhat are the benefits to future researchers if we investigate the relationship between migration and income inequality?arrow_forwardIf a country had perfect income equality what would the Lorenz curve look like?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning