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Assume you have the following income distribution data for the residents of Disneyland: Pluto $15,000 Donald Duck $20,000 Ticket Taker $5,000 Minnie Mouse $25,000 Mickey Mouse $35,000
1. The percentage of Disneyland income held by the lowest quintile is 15%. True or false, and why?
2. Assume that a perfectly equal distribution of income exists in Disneyland. Which of the current residents would have the same income as in the present distribution?
3. Now assume that Mickey Mouse becomes a meanspirited authoritarian dictator. His income is $99,996. Each of the other characters receives $1. Describe what this income distribution would look like on a Lorenz curve.
4. What is the U.S. Government's definition of poverty?
5. List and briefly explain two advantages and two disadvantages of a more equal distribution of income.
Assume that one nation subsidizes is exports and other country imposes a countervailing tariff that offsets effects, so that in the end relative prices in the second country are unchanged.
Proponents of the rebate-for-all assert that more of lower- and middle-income households should be included in any rebate plan because they are more likely to spend a bigger chunk of their rebate than higher-income households
Auctions in recent years have resulted in higher prices paid for letters wriiten by John Wilkes Booth than those written by Abraham Lincoln.which of the following events would cause the price differences in these letters to get smaller
Suppose the Fed has already make a decision that it wishes to target the money stock. Will the Fed come closer to its target by setting the interest rate at a given level, or will it do better by fixing the money supply through open market operations..
As a seller of data to customers in Brazil, suppose you are an exporter and you periodically buy advertising space on Brazilian Web sites to advertise your service;
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary policies would be appropriate at this time
The accompanying chart indicates an actual newspaper quotation of the exchange rate of various currencies. On February 2, did the dollar appreciate or depreciate against the British pound? How did it fare against the Canadian dollar?
If the average price of goods in Europe increase from 100 in year 2000 to 130 in year 2010. If the average price of goods in the U.S. rises from 120 in year 2000 to 140 in year 2010.
Explain the differences between exporting firms, and import-competing firms and list any five entry costs that are borne by most exporting firms.
Determine the pros and cons of a company that competes in a global environment and how do you think this has affected United States economy and global economy?
Kellogg's, breakfast food people, comprises one of four corporations that control about 92% of its market for breakfast food. Kellogg's would be considered;
Assume Bill and Hillary notice values are higher in high rent districts. Bill says it's because high rents cause high values. Hillary says its because high values cause high rents.
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