A group of 10 people have the following annual incomes: $24, 000, $18, 000, $50, 000, $100, 000, $12, 000, $36, 000, $80, 000, $10, 000, $24, 000, $16, 000. Calculate the share of total income that each quintile receives from this income distribution. What percent of the total income is represented by the highest quintile? Round your answer to the nearest tenth. Provide your answer below:

Q: Quotas offer greater scope for corruption than tariffs. B. Quotas may not support inflationary pres...

A: To find : Whether the statement is true or false. 

Q: 1. Demand terminology Complete the following table by selecting the term that matches each definitio...

A: The curve that depicts various quantities of goods being demanded by individuals at various levels o...

Q: The multiplier is an indication of the capacity of money injected in the economy to    a. increase i...

A: The economics as a study is based upon the basic idea of scarcity. The resources which are present w...

Q: According to our analysis of a worker's choice of how much to save for retirement using our model of...

A: Answer:-  (D) An increase in the interest rate.   

Q: Prices of gasoline change rapidly if something interrupts the oil supply. How responsive do you beli...

A: When a product is being manufactured, cost  takes place for producing that product and process of bu...

Q: Given the data in the table below, calculate the marginal propensity to save. Consumption Personal I...

A: Marginal Propensity to Save: MPS means the proportion of additional disposable income that is saved,...

Q: What is household consumption expenditure reflecting in terms of GDP of a country? What it indicates...

A:

Q: Dr. Smith, a new professor, makes $85,000 his first year. He is guaranteed 7 years of employment at ...

A: Given: Salary in 1st year=$85000 Increase in salary each year=8% Years of employment=7 Interest rate...

Q: credit card statement in the mail. She paid the bill online and threw the statement away. How can sh...

A: To find : Whether this is case of fraud or not. 

Q: Given the supply and demand functions Qs = ( P + 8 ) ( P + 20 )1/2 QD = 460 – 12P 3P2 / ( P + 20 )1/...

A: Answer: Given, QS=P+8P+20QD=460-12P-3P2P+20 At equilibrium,QS=QDP+8P+20=460-12P-3P2P+20P+20P+20=460-...

Q: 1) Having food on the table would be a measure of  a. capability's approach b. subsistence c. relat...

A: Capability's approach: This approach is given by Amartya Sen, according to this approach people will...

Q: In trade policy a balance must be stricken between Select all that apply: importers and exporters do...

A: The answer is -  Option 2. domestic business special interests and domestic consumer interests. Opti...

Q: Suppose that a typical firm in a monopolistically competitive industry faces a demand curve giver by...

A:

Q: Suppose a market in which demand equals Q=1200-10p and supply equals Q=20p a- What is the value of ...

A: Consumers' surplus is a proportion of consumer government assistance and is characterized as the abu...

Q: Explain the FOUR(4) assumptions of perfect competition.

A: Perfect competition is a type of a market structure.

Q: How are quintiles calculated? Select the correct answer below: O Calculated using the average of the...

A: Quintiles are defined as the equal numbers of five groups in a population.  

Q: 16. The elasticity of labor supply implied by the following table taken from Ashenfelter et al. (Eco...

A: Elasticity of labour supply: Elasticity of labour supply is measured by divinding the percentage cha...

Q: Provide a brief description (1-2 sentences) of the lag effect.

A: The lag effect describes the time lag between the policy apply and the actual effect of the policy o...

Q: Do you think that the benefits we get from gold—its uses in jewelry, dentistry, electronics, and oth...

A: By recording their innovative, community-based field experiences, CORE NGOs can share their successe...

Q: Profit is maximum when Distance between TR and TC is maximum

A: The firm has objective to maximize the profit level. Some firms might have different objectives over...

Q: In the real intertemporal model with investment, the government increases spending on roads and brid...

A: Total-factor productivity, likewise called multifaceted productivity, is normally estimated as the r...

Q: The price of widgets has increased from $4 to $12, causing the quantity supplied to increase from 20...

A: The mid point formula for price elasticity of supply: ed = [(Q2-Q1) / (Q2+Q1)/2] / [(P2-P1) / (P2+P1...

Q: John constructed a commercial building amounting to $1.59 Million. Permits and taxes charges amounte...

A: Given First cost FC= $1590000 Life of the equipment = 50 years  Salvage value of equipment after 50 ...

Q: a. What is the duration (life) of the project if the MARR used by Jane was 1%

A:

Q: Using the supply and demand graph below, identify the areas of consumer surplus and producer surplus...

A: Answer: Consumer surplus: consumer surplus refers to the area between the equilibrium price and the ...

Q: What are the possibilities that cause a change in the unemployment rate according to this table?   ...

A: Answer: Unemployment rate: unemployment rate refers to the fraction of the labor force that is unemp...

Q: Rational expectations theory assumes Multiple Cholce consumer behavior is static. consumers will cha...

A: Consumer behavior is not static, consumers form their expectation according to RE, consumers use all...

Q: An upstream firm (U) sells an input to a downstream firm (D) which resells it to consumers. The marg...

A: Introduction Marginal cost of the firm is MC = $ 4 Each unit has sold U to D at price r Price = r , ...

Q: The produclion funclion for a frm ie pix, y)- B6x"y". tere x and y are the number of unis of labor a...

A: Given  Production function: p(x,y)=96x3/4y1/4              ... (1) Cost of labor (w)=$144 per unit C...

Q: Supply Demand QUANTITY the cost of a unit to a seller. For an output level above QE, the value of a ...

A: In the above diagram, the market is said to be in equilibrium at point A where the demand curve inte...

Q: Employer-provided private health insurance in the United States has resulted in:  A. incentives that...

A:

Q: Suppose that beer and pretzels are unrelated goods (neither complements nor substitutes). Which of t...

A: Basics:- Substitution effect occurs when two goods can replace consumption of each other. Example:-...

Q: 1 According to the Solow Model, which of the following statements is correct? 1. An increase in the ...

A: When talking about the Solow growth model, it can be said that the changes in population, capital, t...

Q: Last month Jem purchased $10.200 of US Treasury bonds (their face value was $10,.200). These bonds h...

A: Bond valuation is a technique for determining the theoretical fair value of a particular bond. Bond ...

Q: In the past Christmas season, the roast suckling pig market was impacted by a large number of buyers...

A: Here, it is given that the market of roast suckling pig was affected by the buyers in the past Chris...

Q: Which of the following would cause the aggregate supply curve to increase... A) Energy prices such ...

A: Aggregate Supply curve is an upward sloping curve showing positive relationship between price level ...

Q: Jan wealth W = 100, has a utility function with respect to wealth of U = .5W^(2) , and faces a gambl...

A: Given: U=0.5W^(2)

Q: 120 110 100 90 80 70 60 50 40 30 20 10 0 10 15 30 40 50 60

A: Ques 1) Tax creates a wedge between the price buyers pay and the price suppliers get. Here , before ...

Q: Part A: Return on Investment You are an HR manager responsible for organizing the company's new sale...

A: ●Donald Kirkpatrick, former Professor Emeritus at the University of Wisconsin, first published his m...

Q: what are the two main critics of rainfall insurance in developing countries?

A: Rainfall insurance plays a significant role in the development of the agriculture sector in an econo...

Q: If the inflation rate is 3% per year, how many years will it take for the cost of an item to double,...

A: Given:Inflation Rate=3% per year

Q: iii. If electric vehicles are considered as close substitutes of fuel cell vehicles (fuel cars) then...

A: When goods are closely related then price of some are tend to effect supply and demand of other good...

Q: Ily assume that the countries, after much deliberation, decided to trade 25 beets for 100 bushels of...

A: In 1968, India established the Public Provident Fund (PPF) with the purpose of mobilizing little res...

Q: 8. All labour is A. O Homogeneous B. O Heterogeneous C. O Lazy D. O Intelligent

A: The work which is being done by a particular worker or the group of workers in exchange for money is...

Q: Select an industry that belongs to any one of the four market structures – perfect competition, mono...

A: The fuel industry has the market structure of an oligopoly.  There are a couple of predominant firms...

Q: What is gross capital formation reflecting in terms of GDP of a country? What it indicates when the ...

A: Gross domestic product is the total market  value of of goods that is produced domestically during t...

Q: By how much will the slope of Matt's budget constraint change if his income were to increase from $1...

A: In economics, a budget constraint represents all the combinations of goods and services that a consu...

Q: 8-hour physical work capacity 60% 40% 20% 0% 3 4 5 7 Time Working on Job Figure 2: Maximum physical ...

A: here we explain the MPWC   shown in the given diagram of male and female as follow;

Q: Consider the O-Ring model with LaTeX: N=2 tasks. Workers in-country LaTeX: R each have a skill, LaTe...

A: According to O - Ring model : So worker's skill in Latex R = q_R which is 3 times of P Workers's ski...

Q: QUESTION TWo The costs of operating the canteen at 'Eat a lot Company' for the past three months (De...

A: (i) and (ii) Month Cost (TC) No. of employee Variable cost (VC) Fixed cost (TC - VC) December 2...