Discuss the concept of the “optimal amount of inequality.” What are some of the practical problems in determining how much inequality really is optimal?

Q: Use quintiles to briefly summarize the degree of income inequality in the United States. How and to…

A: In 2016, the lowest quintiles’ average market income in the United States was $15,600 and for the…

Q: Explain why the poverty gap ratio is the better target measure of poverty than the head- count…

A: The poverty gap represents the intensity of poverty in a country while the head-count ratio shows…

Q: Do the rich get richer and the poor get poorer? Explain please and be sure to differentiate between…

A: Poverty refers to a state under which a person is unable to meet his basing needs using the given…

Q: How much age affects inequality? Is there something the government can do about younger and older…

A: People around the world of all ages are affected by inequality; nevertheless, there are certain…

Q: Explain the concepts of the ‘Lorenz curve’ and ‘Gini coefficient’. In answering this question,…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you as per…

Q: The combination of low GDP per capita and high income inequality is sometimes positive for companies…

A: Agricultural products include vegetables, oils, fruits, milk, meat, eggs, and cereals.

Q: Differentiate Income Distribution and Wealth Distribution as well as discuss the different causes of…

A: Income distribution refers to equality with which income is divided among different sections of the…

Q: The $1.4 billion trick to make us accept income inequality Lotteries take money from the poor and…

A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…

Q: Are poverty rates rising or decreasing in the US? How has the gap between the rich and poor…

A: Because of the pandemic's economic impact and skyrocketing unemployment, poverty in the United…

Q: Although it is hard to separate the causes of poverty from the effects, there is no doubt that…

A: Economy refers to the system in which the production and consumption activities are interrelated. It…

Q: Why inequality still exist?

A: Inequality refers to the state or situation of not being equal in various aspects such as rights,…

Q: How would a utilitarian, a liberal, and a libertarian determine how much income inequality is…

A: Inequality is how income and other factors are distributed unevenly through a society. The lower the…

Q: What is the urban inequality rate compared to national inequality rate in Rio de Janeiro? Give a…

A: Inequality has been a major concern to most of the countries across the world. Inequality refers to…

Q: Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage…

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: Your friend points to the wages earned by your economics professor and her teaching assistant (TA)…

A: The economic lifecycle refers to the consumption and income patterns of individuals over the course…

Q: In a column in the Washington Post, Robert J. Samuelson wrote: "As for what's caused greater…

A: In the society there exists inequality in earning capacity of people. This is why the government…

Q: Is per-capita purchasing power a bettermeasure of economic inequality thanper capita income?…

A: Money has been recognised since many ages and people are using money for various purposes. Money is…

Q: Below is a Lorenz Curve for a given country.  Suppose its government establishes a 10% income tax on…

A: A Lorenz curve is a graphical representation of a community's income or wealth distribution.Lorenz…

Q: what do each of the school of economics - classical, neoclasscial, austrian, marxian, keynesian,…

A: Classical economics believe in full employment, and that any divergence from full employment…

Q: The graph below shows the Lorenz curves of two different countries stylistically called ‘red’ and…

A: The Gini index, often known as the Gini coefficient, measures income distribution throughout a…

Q: Income inequality at one point in time is sometimes consistent with the income equality over time.…

A: Income inequality depicts that the distribution of income in any income is not same.

Q: What is the relationship between a Lorenz curve and a Gini coefficient? Give some examples of how…

A: The Lorenz curve is a representation of the distribution of a metric – consumption, wages,…

Q: The degree of inequality in the distribution of income in an economy is depicted in aln O Lorenz…

A: The Lorenz curve is a representation of the distribution of a metric – consumption, wages,…

Q: How do government statisticians determine the poverty rate? How could the poverty rate fall while…

A: The poverty means lacking in basic facilities such as food, shelter, cloth, etc.  The poverty…

Q: What are the principal causes of income inequality and what are popular and conventional measures to…

A: The measure that depicts the uneven distribution of income throughout a population is being known as…

Q: In the United States, the richest quintile of the population receives 13 times as much income as the…

A: The explanations for this unmistakable distinction between income inequality and consumption…

Q: Q3: Without doing additional calculations, explain what would happen to the shape of the Lorenz…

A: Given that:- Lorenz curve( Grey colored) of 2012 If:- First 15 % people are given cash assistance by…

Q: Explain the trade-off between equity and efficiency in poverty-reduction policy.

A: Equity refers to the concept wherein the citizens of the country are included. It allows the…

Q: If a society wishes to achieve a high degree of efficiency, then it must also accept a high level of…

A: The high growth rate calls for the high incentives to the producers. It tends to generate the income…

Q: 1. When Lorenz curves are __________. a. more curved the greater is the degree of income inequality…

A: The Lorenz curve is the graphical representation of the inequality in the economy.  The graph…

Q: Perfect inequality in the distribution of income can be exhibited in reality.  52. Holding all other…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: A Lorenz curve is a graphical representation of wealth distribution among a population. Conduct…

A: A Lorenz curve is a graphical representation of wealth distribution or income inequality among a…

Q: Why would income inequality be as damaging as poverty?  Explain each concept.

A: Income inequality refers to the unequal distribution of income among the population. This implies…

Q: Why do you think there has been movement toward greater income equality during the 1929 to 1970…

A: The degree to which wealth is distributed unequally within a society is referred to as income…

Q: According to Andrew Carnegie, in his essay "Wealth", where does inequality of wealth come from, is…

A: Inequality of wealth is one of the most important aspect for which the government must intervene the…

Q: Lorenz curves of two different countries stylistically called ‘red’ and ‘green’.

A:

Q: The values in the table reflect the percentages of pre-tax-and transfer income. 22. Refer to Table…

A: Inequality is when the gap of the wealth or income between the richest and the poorest section of…

Q: Describe the vicious cycle of poverty. What are the consequences of this cycle?

A: Poverty- It is the condition of being extremely poor.