Answered: Summarize changes to the distribution…

Business

Economics

Summarize changes to the distribution of income since 1980. Is is analysis positive or normative? Why?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter33: Income, Income Distribution, And Poverty

Section: Chapter Questions

Problem 4E

See similar textbooks

Related questions

Q: The ‘free-rider’ problem makes providing public goods challenging. Briefly explain this statement.

A: A public good is non-rivalrous and non-excludable, which means that there is no scarcity of…

Q: In the graph you've just explored, when did the most recent expansion begin? The most recent…

A: Business cycles refers to the alternative period of expansion and contraction in the business…

Q: Cell Peak produces shelving units. The variable cost of each shelving unit comprises of direct…

A: Answer to the question is as follows:

Q: A gas station owner sees a report on TV which states that the number of gallons of gasoline sold in…

A: Demand elasticity evaluates how variables like price and income impact consumer demand for a…

Q: WHAT WILL BE THE FUTURE WORTH OF MONEY AFTER 6 MONTHS, IF THE SUM OF P100,000 IS INVESTED TODAY AT…

A: If P is the present value , then future value can be given as (given that the simple interest rate…

Q: (c) Derive the mixed strategy Nash equilibrium (MSNE). What is the proportion of Hawks and Doves? If…

A: We have given the game table Animal B Hawk Dove Animal A Hawk (-10, -10) (20,0) Dove…

Q: (ROUND A company has established that the relationship between the sales price for one of its…

A: The estimated price and demand relationship is the demand equation and it is given as p=77-0.12D…

Q: Discuss five benefits of environmental regulation?

A: Meaning of Environmental Regulation: Here, the term environmental regulation is all about…

Q: What are the breakeven points and the range of profitability for the given total profit general…

A: TP = -0.02D2+500D-1000

Q: Given this data: B = P127,902.00 S-P19,117.00 n = 13 years What is the SYD depreciation charge D,…

A: sum of years digit depreciation is calculated by adding all the years and find the depreciable…

Q: Which of the following represents an action by the central bank designed to decrease the money…

A: In an economy, central bank can influence the money supply using different Monetary policies.

Q: If the price elasticity is not between 0 and 1, demand is a. perfectly elastic. b. unit elastic c.…

Q: The law of diminishing marginal utility states that Multiple Choice O total utility is maximized…

A: Utility is defined as the total amount of satisfaction derived from the consumption of a good.…

Q: At Trader Joe's, the price of chocolate chip cookies falls. As a result, you would expect to see a…

A: In economics, supply is the number of assets that firms, producers, laborers, providers of financial…

Q: What are the breakeven points and the range of profitability for the given total profit general…

A: Breakeven point is the point where firm earns nothing or in other word firms profit becomes Nill.

Q: Consider the following statements about the business cycle. Which of the following statements is…

A: Business cycles are the alternate periods of expansion and decline in an economy's commercial…

Q: 1. mary williams, owner of Williams products, is evaluating whether to introduce a new product line.…

Q: Price of Good X P3 2 a 0 Q₁ 22 Quantity of Good X Refer to Exhibit 4-C. If price P₁ is a price…

A: Price floor is the minimum price that a buyer is legally bound to pay. It is decided by the…

Q: Price Elasticity of Demand, Midpoint Formula: E = percentage change in quantity demanded ÷…

A: Introduction Price elasticity of demand expresses the response of relative change in quantity…

Q: Evan goes out drinking every Thursday night, even though he tends to show up late for work and hung…

A: Meaning of Behavioral Economics: The term behavioral economics considers individuals' mindset or…

Q: Price Figure 3-3 E 52 50 51 Quantity Refer to Figure 3-3. A change from Point A to Point E…

A: Supply refers to the quantity of the goods the producers are willing unable to produce in the…

Q: Consider two product designers that compete in terms of where to place their product in the product…

A: A location game is a simultaneous game in which players move on a single straight line between 2…

Q: Task 5: Suppose, in the base year, a typical market basket purchased by an urban family cost $250.…

A: We may quickly determine the CPI index and inflation rate for various time periods just by carrying…

Q: Need help with this. Picture 2 empty spots possible answers, You can choose only 1: Consider the…

A: When the price of sedans increased from $15k to $20k, it will lead to leftward movement on the…

Q: What will be the amount of Current account BOP if the Trade balance is $165 and invisible balance is…

A: The invisible balance is denoted to be as the value actually over a certain period of the exact time…

Q: How much should I invest today and expect a reimbursement every other month with a ROR of 0.09…

A: given that, reimbursement every other month with a ROR of 0.09 compounded bi-monthly for 4 years.…

Q: For the general multiple regression model y =B₁ + B₂x₂ + B₂³x₂ + ... + Bxxx + e the following two…

A: Exogeneity : It explains that the correlation between the error term and the explanatory variables…

Q: Assume that equilibrium GDP (Y) is 5,000. Consumption (C) is given by the equation C = 500+ 0.6…

Q: When using the income approach to measure GDP, what calculation must be done to convert GDP at…

A: Gross domestic product is the market value of final goods and service produced by a nation during a…

Q: in the long run, representative firms in monopolistically competitive markets will just break even…

A: In case of Monopolistically competitive market there are large number of firms which produce goods…

Q: . P5000 is borrowed for 75 days at 16% per annum simple interest. How much will be due at the end of…

A: Simple interest: It is a quick and easy method for calculating interest on a loan.

Q: QS.1 - Integrate the following: 3x² ( 12x³ + 20 10.5 within the range 6 and 8. QS.2 - The marginal…

Q: Required information Durco Automotive needs a $2 million balance in its contingency fund 3 years…

A: FV = 2 million r = 11%

Q: Using DBM, when is the t year with a book value of P7,633 if the asset is bought at a price of…

A: Given The initial cost of the asset (FC) =P17,763.00 Salvage value (SV)=2459 Economic life =10…

Q: 91) The market for an industrial chemical has a single dominant firm and a competitive fringe Price…

A: The market demand curve is obtained by adding together the demand curves of the individual…

Q: The following graph shows the market demand for ice cream. Suppose that the price of cake, a…

A: Dear Student, as you have posted multiple questions in a single image but as per the guidelines and…

Q: Vince loaned a certain amount from a cooperative and promised to pay it back with 2.32 times his…

A: The interest rate which is calculated without taking into account the impact of inflation is…

Q: Explain the impact of external costs and external benefits on resource allocation?

A: In economics, externalities allude to the effects one's private actions have on the bystanders,…

Q: A BANK CHARGES 15% SIMPLE INTEREST ON A P500.00 LOAN. HOW MUCH WILL BE REPAID IF THE LOAN IS PAID…

A: Simple interest is determined by multiplying the everyday interest rate by the principal, by the…

Q: Which statement is incorrect for statistical independence between X and Y? Select one: a. The…

A: Statistical independence is when distribution of Y does not impact distribution of X.

Q: An increase of $250 million investment in an economy resulted in total increase in income of $1000…

A: Given the following information: Increase in investment = $250 Total increase in income = $1000

Q: 1. A man deposited $4,000 in a bank at a rate of 12% per annum from January 10,1999 to November…

Q: 4. The catch-up effect Consider the economies of Blahnik and Gribinez, both of which produce gobs of…

A: given that, the economies of Blahnik and Gribinez, both produce gobs of goo using only tools and…

Q: Smartphones and Apps can be considered Therefore, as the prices the demand for of Apps smartphones O…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: There are three parts to this question: 1a, 1b, and 2a. Suppose that annual output in year 1 in a…

A: Nominal GDP is the value of all final goods and services produced within the geographical boundaries…

Q: Oregon Hikes Cigarette Tax by $2 Last November Oregon voters overwhelmingly approved higher taxes…

A: Tax Rate refers to the rate at which various goods and services are taxed by the government of a…

Q: Total utility may be determined by Multiple Choice O O O multiplying the marginal utility of the…

A: In economics, the term 'utility' is used to explain the amount of satisfaction obtained by an…

Q: 2. A loan earns an interest of 12% compounded- quarterly and should be paid within 6 yrs. How much…

A: r = 12% compounded quarterly n = 6 years Amount paid 1st year = 20,000 3rd year = 30,000 4th year =…

Q: The fundamental reason to study economics is to study ____. how choices are made how…

A: In the world, people has unlimited wants, but the resources to fulfill these wants are limited. It…

Q: An industrial plant bought a generator set for P90,000. Other expenses including installation…

A: Due to use, damage, or obsolescence, an asset loses value over time. This decrease in the book value…

Question

Summarize changes to the distribution of income since 1980. Is is analysis positive or normative? Why?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Normative vs Positive analysis

VIEW

Final Answer

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What is socio economic
Studies indicate that married men on average earn more income than unmarried men of the same age and education level. Why must we be cautious in concluding that marriage is the cause and higher income is the effect?
In a competitive market economy, how is the distribution of income primarily determined? a.By the number of firms in the market for goods and services b.By the ownership of resources and human capital in the economy c.By the government d.Can be changed so that everyone is left better off while none are made worse off
Is Income determined by the Scarcity of Your Contribution, and Not the Value of Human Worth?
do you not have to take the income forgone in the time spent raising each child to adulthood, defined by z into account?
Define economics in terms of wealth
Question : Large majorities in the 11 emerging and developing countries surveyed either own or share a mobile phone, and in every country it is much more common to own one’s own phone than to share it with someone else. In seven of these countries, half or more now use smartphones – and smartphone use is especially common among younger and more educated groups. As an economist how will you evaluate the income effect on technology?
According to John Rawls, society gains more from improving the welfare of the rich household.
Why are the poorest members of society the greatest beneficiaries in the Difference principle of John Rawls?
What is meant by relative deprivation theory?
International data show a positive correlation between income per person and the health of the population. Explain how higher income might cause better health outcomes. Explain how better health outcomes might cause higher income.
When the earned income of poor people increases to be equal to disposable income the transfer from the government is zero. is it (true or false) ?