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For questions 4 - 6: Consider an economy with:1000-residents, and the following income distribution: each person in the bottom quartile of the income distribution earns $10,000; each person in the middle two quartiles earns $40,000; and each: person in the top quartile of the income distribution earns $160,000. Suppose the bottom quartile pays no taxes, the middle- two quartiles pay 15 percent of its income in taxes, and the top quartile pays 30 percent of its income in taxes. Two-thirds of all tax money is redistributed equally to all citizens in the form of military defense, government pensions (social security), roads/highways, etc. The remaining one-third of tax money is disturbed entirely to the poorest quartile. 4. Without govemment tax and redistribution, the Gini coefficient associated with this income distribution is C. 0.425e A.--0.327- B. 0.412 -e D. 0.450e 5. The total tax collected is_ A. -$9 million= B. $15 million C. $21 million D. $30 millione 6. With government tax-and redistribution, the Ginicoefficient-associated with this income distribution is: C. 0.246e A.-0.163e B. 0.152e D. 0.145e

For questions 4 - 6: Consider an economy with:1000-residents, and the following income distribution: each person in the bottom quartile of the income distribution earns $10,000; each person in the middle two quartiles earns $40,000; and each: person in the top quartile of the income distribution earns $160,000. Suppose the bottom quartile pays no taxes, the middle- two quartiles pay 15 percent of its income in taxes, and the top quartile pays 30 percent of its income in taxes. Two-thirds of all tax money is redistributed equally to all citizens in the form of military defense, government pensions (social security), roads/highways, etc. The remaining one-third of tax money is disturbed entirely to the poorest quartile. 4. Without govemment tax and redistribution, the Gini coefficient associated with this income distribution is C. 0.425e A.--0.327- B. 0.412 -e D. 0.450e 5. The total tax collected is_ A. -$9 million= B. $15 million C. $21 million D. $30 millione 6. With government tax-and redistribution, the Ginicoefficient-associated with this income distribution is: C. 0.246e A.-0.163e B. 0.152e D. 0.145e

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 28EQ
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For questions 4 - 6: Consider an economy with 1000 residents, and the following income distribution: each person-in the bottom quartile of the income distribution earns $10,000; 'each person in the middle two quartiles earns $40,000; and each: person in the top quartile of the income distribution earns $160,000. Suppose the bottom quartile pays no taxes, the middle two quartiles pay 15 percent of its income in taxes, and the top quartile pays 30 percent of its income in taxes. Two-thirds: of all tax money is redistributed equally to all citizens in the form of military defense, government pensions (social security), roads/highways, etc. The remaining one-third of tax money is disturbed entirely to the poorest quartile. 4. Without government tax and redistribution, the Gini coefficient associated with this income distribution is A. 0.327e B. 0.412.e C. 0.425e D. 0.450e 5. The total tax collected is A. $9 million B. $15 million- C. $21 million D. $30 million 6. With government tax and redistribution, the Gini coefficient associated with this income distribution is: C. 0.246e A. 0.163e B. 0.152e D. 0.145e
Transcribed Image Text:For questions 4 - 6: Consider an economy with 1000 residents, and the following income distribution: each person-in the bottom quartile of the income distribution earns $10,000; 'each person in the middle two quartiles earns $40,000; and each: person in the top quartile of the income distribution earns $160,000. Suppose the bottom quartile pays no taxes, the middle two quartiles pay 15 percent of its income in taxes, and the top quartile pays 30 percent of its income in taxes. Two-thirds: of all tax money is redistributed equally to all citizens in the form of military defense, government pensions (social security), roads/highways, etc. The remaining one-third of tax money is disturbed entirely to the poorest quartile. 4. Without government tax and redistribution, the Gini coefficient associated with this income distribution is A. 0.327e B. 0.412.e C. 0.425e D. 0.450e 5. The total tax collected is A. $9 million B. $15 million- C. $21 million D. $30 million 6. With government tax and redistribution, the Gini coefficient associated with this income distribution is: C. 0.246e A. 0.163e B. 0.152e D. 0.145e
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