Answered: In order to measure income inequality,…

In order to measure income inequality, economists look at how income is distributed in ... Group of answer choices a. quintiles b. degrees c. five percent brackets d. ten percent brackets

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter28: The Distribution Of Income And Poverty

Section: Chapter Questions

Problem 3QP

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In order to measure income inequality, economists look at how income is distributed in ...

Group of answer choices

a. quintiles

b. degrees

c. five percent brackets

d. ten percent brackets

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A group of 10 people have the following annual incomes: 55,000,30,000,15,000,20,000,35,000,80,000,40,000,45,000,30,000,50,000. Calculate the share of total income each quintile of this income distribution received. Do the top and bottom quintile s in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution for 2005?
Describe how each of these changes is likely to affect poverty and inequality: Incomes rise for low-income and high-income workers, but rise more for the high-income earners. Incomes fall for low-income and high-income workers, but fall more for high-income earners.
To reduce income inequality, should the marginal tax rates on the top 1 be increased?
Describe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might nut have such effects.