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- What is income redistribution? Be specific and provide at least three examples.The table below presents the percentage of total income that goes to a certain fraction of the population of the country of Sanaton. For example, according to the table, the bottom 40% of the population owns 25% of the total income generated in Sanaton. What is the income share of the richest quintile (fifth quintile)? Just enter the number, without % sign. Cumulative percentage of population 20 40 60 80 100 Cumulative percentage of income owned 15 25 40 60 100True or False. Research indicates that immigration causes large decreases in the average American wage.
- In the absence of any legal barriers on immigration from Neolandia to the United Kingdom, the economic conditions in the two countries generate an immigrant flow that is negatively selected. In response, the United Kingdom enacts an immigration policy that restricts entry to Neolandians who are in the top 10 percent of Neolandia’s skill distribution. What type of Neolandian would now migrate to the United Kingdom ?The below graph shows the optimal level of human capital acquisition for a 30-year old. On the same graph, show the optimal human capital acquisition if the discount rate was lower.If this upward trend in age at first marriage for both sexes continues, what do you predict will happen to the divorce rate?
- State True or False: Although poverty is a problem in most areas of the world, relatively few people die of causes arising from poverty.What is the age dependency ratio?The figure below shows the proportion of children in earnings quantile conditional on their father's earnings quantile in the US and Denmark, respectively. Based on this information, which of the following statements is correct? US I Child in poorest 20% I Child in richest 20% DENMARK 0.400 0.4 0.4 0.360 0.337 0.3 0.3- 0.253 0.2 0.2 0.167 0.161 0.098 0.1 0.1 0.074 Poorest 20% Richest 20% Poorest 20% Richest 20% Father's earnings quintile Select one: O a. In Denmark, it is far more difficult for the richest families to preserve their status for the next generation than in the US. O b. In the US, 7.4% of those from the poorest 20% of families managed to move up to become part of the richest 20%. O c. The figure suggests that there is very little governments can do to reduce intergenerational transmission of economic status. O d. The data provides support for the "American Dream", a term coined in 1931 by James Truslow Adams that refers to "a dream of social order in which each man and…