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- Explain how
rates of return on capital, land, and nonrenewable natural resources are determined. - Articulate economic definitions of poverty and inequality in the U.S.
- Explain how government redistributes income to address economic inequality and poverty
Step by step
Solved in 3 steps
- Explain why a capitalist economic system tends to bring about a highly unequal distribution of income. Why did income inequality rise significantly in the U.S. after about 1980?Discuss five (5) NON-ECONOMIC REASONS why poverty is still a problem to contend with in Philippine society today. Answer in no more than 10 simple sentences.Discuss five (5) NON-ECONOMIC REASONS why poverty is still a problem to contend with in Philippine society today.
- Provide an example of a failure of market in terms of equity/income distribution that is not life-saving medicine. Is the government doing anything to account for this failure of market? In your opinion, should they do more, less or keep doing what they are doing? Explain.Inter-generational income mobility tells us about: A) the extent to which the tax and transfer system reduced inequality B) the relationship between parent and child incomes C) none of the answers D) the persistence of income inequality over the lifecycleState True or False: Although poverty is a problem in most areas of the world, relatively few people die of causes arising from poverty.
- Q4.2) Describe in detail the main obstacles that exist in South Africa to further economicdevelopment. Make reference to the NDP.Which statements are true? 1. Modern sector enlargement assures a better Lorenz Curve for a nation. 2. The average poverty gap measures the sum of the differences the income of each person from the absolute poverty line. 3. The multidimensional poverty index gives equal weight to all eight indicators. 4. The normalized income shortfall is a measure of income inequality. 5. When government’s intervention to poverty and income inequality are thoroughly planned, implemented and monitored, a nation is secured of achieving economic development.The factor distribution of income: refers to the pattern of income that people derive from different factors of production. shows how much income people get from labor compared to land and capital. hasn't changed substantially in the last century in the United States. All of these are true.
- Which of the following is an example of a positive economic statement? a.The government should not be involved in the income redistribution schemes. b.The after-tax distribution of income is more equal than the pre-tax distribution of income. c.The distribution of income in the United States should be more equal. d.The tax system should be more progressive so that the after-tax distribution of income can be more equal.Why does the failure to adjust the poverty line for regional differences in living costs lead to an understatement of poverty in some states and an overstatement of poverty in others? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.The Marginal Productivity theory of income determination implies everyone gets paid for the value they produce: Critically assess this claim, exploring the arguments and evidence for and against it, and outline the most prominent alternative theory of income distribution and inequality.
