Suppose that the United States has a Gini ratio of 0.41 while Sweden has a Gini ratio of 0.31. Which country has a more equal distribution of income?     a. The United States. b. Sweden. c. They are actually equal

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: Economics Suppose that at date 1 the distribution of income is (1, 2, 3), while later, at date 2, it…

A: Income Inequality refers to the unequal distribution of income among the individuals of an economy.…

Q: Redistribution of income occurs through the federal income tax and government antipoverty programs.…

A: Redistribution of income: It means that the transfer of money from rich people to the people poor…

Q: What does Ramey argue needs to be the policy focus for reducing inequality in the U.S.? O Create…

A: When talking about inequality among people, especially in terms of income inequality, Garey Raney…

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

A: ANS Arranging the income distribution in ascending order we represent the following table: Where…

Q: 3. Thailand's Gini index in 2019 was 34.9%. The equation of the Lorenz curve that was used to…

A: Gini index is a measure to calculate income inequality in a country. It is equal to the ratio of…

Q: When the Lorenz curve lies above thediagonal,a. the poorest 20 percent of the populationreceive more…

A: Lorenz curve is the curve which shows inequality in the economy, it could be income inequality or…

Q: Is it possible for everyone's real income to rise even though the income distribution in a society…

A: Real income is the actual income of a person from which he is able to buy goods and services even…

Q: The diagram below depicts Lorenz curves for two countries, Gallifrey and Panem. 100% 80% 60% 40%…

A: The Lorenz curve is a graphical representation of the distribution of income or wealth in a country…

Q: Assume that Denmark has a Gini co-efficient of 0.2. This means that it has a(n):  (1) Equal…

A: In economics, the Lorenz curve is a graphical representation of the income distribution in an…

Q: 1 Suppose that in country X the "bottom" 80% of the population receives 20% of the country's income.…

A: Answer - "Thank you for submitting the questions. But, we are authorized to solve one question at a…

Q: b) Suppose one person in a population owns all the income and everyone else has none. Write down the…

A: A Lorenz curve is a graphical representation of the distribution of income or wealth within a…

Q: A Gini coefficient/index is a measure of Inequality O Indebtedness Happiness O Wealth

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

Q: Among the properties of the inequality indices, we have seen the Pigou Dalton principle. Do You…

A: Pigou Dalton principle approach towards maximize the social welfare. It states that allocation in an…

Q: In an economy with perfect income equality the Gini coefficient would be

A: The Gini record, or Gini coefficient, measures pay appropriation across a populace.

Q: answer need from reading AND expertise of economic  Q-what are some of the dimensions of economic…

A: The term “income inequality” refers to an uneven distribution of income throughout the population.…

Q: Why is the wage distribution positively skewed? (ii) Describe how to calculate the Gini coefficient.…

A: The Gini coefficient's principal advantage is that it is a proportion of imbalance, not a…

Q: The graph below shows the Lorenz curves of two different countries stylistically called ‘red’ and…

A: The Gini index, often known as the Gini coefficient, measures income distribution throughout a…

Q: Income inequality at one point in time is sometimes consistent with the income equality over time.…

A: Income inequality depicts that the distribution of income in any income is not same.

Q: If in 2009 Indonesia had a Gini index of income distribution of 36.8 and Brazil had a Gini index of…

A: Gini coefficient or Gini index is a statistical tool which measures income inequality in a country…

Q: The data in the table below shows the income of some random people in Massachusetts. If these were…

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

Q: Q.1.3 Assume that Denmark has a Gini co-efficient of 0.2. This means that it has a(n) (1) Equal…

A: The economies around the globe has various entities in the form of households, firms, investors,…

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: According to the News Wire “Inequality,” what is the average per capita income in nations where the…

A: a. According to the news (2017) more than 45% decline in the income are Namibia that has per capital…

Q: Some people feel that income distribution (equality) should be achieved. Do you agree or disagree…

A: The inequality in the distribution of income over the population is referred as income inequality.…

Q: When the distribution of income is adjusted for noncash transfers, the Income distribution shows:…

A: 37) Given  The statement is when the distribution of income is adjusted to noncash transfers, the…

Q: Perfect inequality in the distribution of income can be exhibited in reality.  52. Holding all other…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: 2. Assume that you want to decide whether Country A or Country B to live. You have only information…

A: Country A is preferred to country B if the lorenz curve of former lies above the latter which is…

Q: According to Andrew Carnegie, in his essay "Wealth", where does inequality of wealth come from, is…

A: Inequality of wealth is one of the most important aspect for which the government must intervene the…

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: A Gini coefficient of 0.15 would indicate that a society’s distribution of income is:   A.…

A: The Lorenz Curve is a representation of the distribution of a metric – consumption, wages,…

Q: Question 6 In which of the following regions are there disparities between the wealthy and the…

A: Economic inequality has been a part of the economy since the beginning.

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: Lorenz curves of two different countries stylistically called ‘red’ and ‘green’.

A:

Q: 2. Assume that you want to decide whether Country A or Country B to live. You have only 14…

A: Step 1: Gini Coefficient is a measure to calculate income distribution. It is more often used as a…

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…

Q: Where is income inequality the worst?

A: Income inequality refers to the situation where there is wide misallocation of income between the…

Q: Conceptual (Basic, [5]) Consider our final lecture on human capital, economic growth and wealth…

A: Human Capital is defined as an intangible asset and is not listen on a company's balance sheet. It…