Redistribution of income occurs through the federal income tax and government antipoverty programs. Explain whether or not this level of redistribution is appropriate and whether more redistribution should occur

Q: If a country had perfect income equality what would the Lorenz curve look like?

A: In an economy, Income inequality occurs when there is an unequal distribution of income and wealth…

Q: what knowledge about poverty severity we gain from looking at the poverty gap index and poverty head…

A: Poverty is when the household or individual lacks the basic resources and income, and thus basic…

Q: Define the term Concentrated poverty?

A: Absolute and Relative Poverty: The absolute poverty refers to poverty when the income of a person is…

Q: Draw the line of equality. Draw a Lorenz curve for the distribution of income and label it. >>>…

A: the Lorenz curve signifies an imbalance in the conveyance of one or the other riches or income;…

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 ratio of income to poverty is a measure of the depth of poverty. O True O False

A: Since you have posted multiple questions as per guidelines we can solve the only first question at a…

Q: The refers to the specific amount of income needed for a basic standard of living. poverty trap…

A: The amount required for a basic standard of living.

Q: Explain the feminization of poverty?

A: Poverty refers to the state in which an individual lacks the income and basic facilities for the…

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: can you explain what generational poverty is and how it can be solved?

A: Generational poverty is very bad situation of the people who are living in a poverty situation at…

Q: You have a very tiny, three person society with the following incomes: 1. 15,000 2. 30,000 3.…

A: No. of Persons Cumulative of persons Cumulative % of person Income Cumulative income Cumulative % of…

Q: The term obtained by dividing the area of inequality shown by a Lorenz curve by the area of the…

A: Gini Coefficient It is the area below the line of perfect equality minus the area below the Lorenz…

Q: Explain the Lorenz Curve.

A: A Lorenz curve may be a graphical representation of income inequality or wealth inequality developed…

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: What is income redistribution? Be specific and provide at least three examples.

A: Economics deals with the scarcity and unlimited wants of the people. The economy is bagged by scarce…

Q: List the economic problems that produce inequality?

A: Inequality in the economy is produced when there comes a difference in the distribution of wealth,…

Q: Explain two solutions to overcome economic inequality.

A: Solutions to overcome inequality To overcome inequality,government should increase minimum wage law…

Q: Explain how income inequality in the United States is measured and described.

A: Income inequality refer to the gap or difference in the reference of income paid to in individual by…

Q: Define poverty line ?

A: There is minimum level of income required in a particular country.

Q: As income transfer programs accompanying the War on Poverty increased beginning in the latter half…

A: Income transfer program gives payment benefits to the people who position below certain level of…

Q: Why is there so much wealth inequality?

A: Wealth refers to the assets held by a person which includes property and financial assets. Wealth…

Q: A group of 10 people have the following annual incomes: $24, 000, $18, 000, $50, 000, $100, 000,…

A: Solution: Writing the given incomes in increasing order. First quintile 10000 12000 Second…

Q: as a student in college, what can be done to address income inequality? Explain

A: As a college student,toaddress income inequality,protest can be made against it in the form of…

Q: In the Lorenz curve, the final entry in the cumulative income column needs to be 0% 45% 100%…

A: Lorenz curve is a curve of distribution of income with an economy.

Q: Why should we not use annual income when studying poverty?

A: Countries, international institutions, policymakers, and practitioners can and do quantify poverty…

Q: How does the Gini ratio relate to the Lorenz curve? Why can’t the Gini ratio exceed 1? What is…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Debate the economic arguments for and against income inequality

A: The unequal distribution of income across population is called income inequality. The dispersion is…

Q: The closer the Lorenz curve for income is to the line of equality, the larger is the nation's total…

A: Lorenz curve is a line which shows income distortion of households which is on x axis and cumulative…

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: What factors have contributed to increased income inequality since 1975?

A: ncome inequality has increased within the us over the past 30 years, as income has flowed unequally…

Q: How has the definition of educational inequalitychanged?

A: Educational inequality refers to the unequal allocation of academic resources to socially…

Q: Consider a Maldives island with ten inhabitants. Answer the questions below. a) Plot the Lorenz…

A: Lorenz curves might meet, which is frequently the situation in applied financial aspects, other…

Q: d. Which of the following are drawbacks to redistribution of income? Select all that apply. Income…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What groups in the U.S. population are most likely tolive in poverty?

A: There many groups which are most likely to live in poverty according to race or ethnicity, age,…

Q: Make a case for income inequality

A: Income inequality is a very worst situation for the countries all around the world.It would decrease…

Q: What is income inequality?

A: The discrimination is the indication of treating people differently based on their gender, caste,…

Q: List three policies that can affect the level of economic inequality.

A: In the set of development instruments of a country, the economic inequality is always kept on the…

Q: Identify some public policies that can reduce the level of economic inequality

A: Economic inequality refers to presence of disparities among wealth and incomes of individuals.

Q: What is the "incentive effects" critique of of income redistribution?  (Hint: This was exemplified…

A: Redistribution of income is a distribution of income from people who possess a lot of wealth to…