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- Can Entreprenuership be thougth?The top 1 percent of American households hold nearly 40percent of the total wealth. T or F?Here is one hypothesis: A well-funded social safety net can increase economic equality but will reduce economic output. Explain why this might be so, and sketch a production possibility curve that shows this tradeoff.
- to what extent is incone in equality a result pf choices made by the individual?Describe what benefits may come from a reproductive policysuch as China’s. Now describe several problems that mayresult.Do you think a government should be able to enforcestrict penalties for citizens who fail to abide by such a policy?Why or why not? What alternatives to China’s policy can yousuggest for dealing with the resource demands of a rapidlygrowing population?When the Lorenz curve lies above thediagonal,a. the poorest 20 percent of the populationreceive more than 20 percent of income.b. the richest 20 percent of the populationreceive more than 20 percent ofincome.c. everyone receives the same income.d. the curve is wrong because it is impossible forthe graph to look like this.
- The minister of transport released its festive season road accident statistics which shows that the probability of drivers committing an accident is 8% with utility U(H)= squadroot H, where H stands for year income. The minister further claims these festive season road accidents cost the state (in terms of claims lodged) an average of 84 000 per annum. The road accident fund is an insurance scheme providing compulsory indemnity cover to victims of vehicle accidents and taxi drivers. a. Suppose that an average commuter earns 84000 per annum. What is the expected utility of each commuter if the driver decides not to take insurance. b. What is the cost of insurance policy to the road accident fund? c. Due to high accident rates in South Africa during the festive season, the road accident fund has issued a warning to government that the fund will be insolvent soon. Advise the minister on the cost of insurance that can collapse the scheme.Give typing answer with explanation and conclusion What does Caroline Criado Perez mean by the term “the default male”?The top 1 percent of American households hold one-third of the total wealth. T or F?
- Show how education can signal the worker’s innate ability in the labor market. What is a pooled equilibrium? What is a perfectly separating signaling equilibrium?An individual A is represented by the utility function uA(x) = √x. Another individual B is represented by the utility function uB (x) = x. Both own a sure income of $400 and a risky income that pays $100 with probability 1/4 if it is a good day tomorrow and zero with probability 3/4 if it is a bad day tomorrow. Find the redistribution of their incomes and gambles that makes B as happy as possible, without making A worse off. After the redistribution, what is B’s utility?Does a single individual making $500,000 pay the samemarginal tax rate as another making $1 million? Explain.
