Contrast income inequality

Assignment Help Business Economics
Reference no: EM131392189

Explain how to construct and interpret a Lorenz curve for the distribution of income and wealth; discuss the factors that explain the distribution of income in the US and compare and contrast income inequality in US with other countries.

Reference no: EM131392189

Questions Cloud

What is the effect on economic efficiency : Show how moving from a lump sum tax to a linear tax affects outcomes in terms of output and work effort. What is the effect on economic efficiency? How does your picture show this? You should use a linear PPF (so that the wage without distortions is ..
Economic sanctions : When are economic sanctions likely to succeed? Why did sanctions succeed in convincing Iran to dismantle, at least for the next 10 years, its nuclear program? If Trump cancels the Iran nuclear agreement, is he likely to get a better deal? Explain.
Growth in excess of population growth increase well-being : Certainly we can nod to the idea that economic growth needs to keep up with population growth to maintain our current standard of living. However, does growth in excess of population growth increase well-being. Others argue that the pursuit of growth..
Vertical distance between effective-nominal demand curves : For a given quantity demanded, the vertical distance between the effective and nominal demand curves shows the amount paid by the individual out-of-pocket and the amount paid by the insurer as per the agreed coinsurance rate. What would happen to the..
Contrast income inequality : Explain how to construct and interpret a Lorenz curve for the distribution of income and wealth; discuss the factors that explain the distribution of income in the US and compare and contrast income inequality in US with other countries.
Consider transportation cost-advertising cost and imports : Suppose that the (national domestic) four-firm concentration ratio of Industry X is much higher today than it was 50 years ago. Explain why Industry X may be more competitive today. Consider transportation cost, advertising cost, and imports in your ..
Statements regarding absolute advantage : Suppose that the United States and Italy are considering trade in two products: grain and oranges. Suppose that before trade, the United States produces 800 million bushels of grain and 200 million bushels of oranges. Which of the following statement..
Expensive to reduce its sulfur dioxide emissions : Firm A finds it very expensive to reduce its sulfur dioxide emissions, while Firm B finds it very cheap to reduce its sulfur dioxide emissions. If a program of tradable pollution permits was enacted, we would most likely see
Consume only two goods–food and other goods : Consider a household that consume only two goods – food and “other goods” – that are each normal goods The income of the household is $120, the price of food is $10 and the price of “other goods” is $20. How much food and “other goods” does the house..

Reviews

Write a Review

Business Economics Questions & Answers

  Illustrate what factors might be responsible for situation

President and Congress change budget accordingly, but after 18 months, GDP only increased by three quarters of expected amount. Illustrate what factors might be responsible for this situation.

  Calculate expected market price and variance of market price

A risk-neutral, price-taking firm must set output before it knows the market price. There is a 50 percent chance the market demand curve will be Qd = 10 - 2P and a 50 percent chance it will be Qd = 20 - 2P. The market supply cur–e is estimated to be ..

  Identifying health insurance policies

Government agencies to which the national health care program assigns the task of assisting individuals, families, and small businesses in identifying health insurance policies to purchase are known as

  Assume a firm is currently employing

Assume a firm is currently employing 20 units of capital and 100 units of labor in its production process. Assume also that the marginal product of the 20th unit of capital is 40 units of output, the marginal product of the 100th unit of labor is 10 ..

  Explain how do we measure income inequality

Explain how do we measure income inequality. What problems arise the more unequal a country's income distribution becomes.

  Contrasting views on shape of the aggregate supply curve

Explain why their contrasting views on the shape of the aggregate supply curve lead some economists to argue much more strongly for stabilization policies to fight unemployment and other economists to argue much more strongly for stabilization polici..

  Define deductibles-copayments and coinsurance

What are some of the ways a seller of goods might reassure a possible buyer who is faced with imperfect information? What are some of the ways that someone looking for a loan might reassure a bank that is faced with imperfect information about whethe..

  Payoff table for game when mixer type uses mixed strategy

Recall from Exercise Ul the population of animals fighting over a food source worth 200 calories. Assume that, as in part (b) of that exercise, the cost of a fight is 150 calories per fighter. Assume also that a third phenotype exists in the populati..

  Compare the euro downfall with the other major currencies

Compare the Euro downfall with the other major currencies of the world over? In regards with the negative interest rate they implemented.

  Q 1 describe michael porters five-force model and indicate

q. 1. describe michael porters five-force model and indicate why many observers regard his paradigm of industry

  Business cycles are unpredictable

Which of the following facts is NOT true? Business cycles are unpredictable. As output falls, inflation increases. Business cycles come at irregular intervals. As output increases, cyclical unemployment decreases

  Find the effective gross hourly cost

A tool and die worker is paid $26.50 per hour. The work year consists of 52 40-hour weeks with overtime schedules for 26 Saturdays. The company allows 8 paid holidays and 10 days of vacation. Four days of sick leave are budgeted and have historically..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd