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- What is the Gina Coefficient
- A measurement of the level of poverty in a country
- A measurement of how income is distributed in a country
- A measurement of the demand for normal goods versus inferior goods
- A measurement of the cost ratio between human and physical capital
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- In country A, the population is 300 million and 50 million people are living below the poverty line. What is the poverty rate?A group 0f 10 people have the following annual incomes: 24,000,18,000,50,000,100,000,12,000,36,000,80,000,10,000,24,000,16,000. Calculate the share of total income that each quintile receives from this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution?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?
- Please write down only the answers. Attachment screenshot is for your reference as well. 1. Income inequality and the poverty rate The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2007, the poverty line is set at an annual income of $27,400 for an individual. Share of Total Income in Perkopia [Percent] Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile 2001 5.0 11.0 16.0 24.0 44.0 2007 3.8 9.9 15.2 22.5 48.6 2013 3.5 9.2 14.8 22.0 50.5 2019 3.2 8.2 14.0 21.5 53.1 The data in the table suggest that there was_______ [NO Change In (OR) NO Evidence Of (OR) An Increase In (OR) A Decrease In] income inequality from 2001 to 2019. Complete the following table to help you determine the poverty rate in Perkopia in 2007.…What is the term economists use to refer to the relationship that a higher price leads to a lower quantity demanded? income gap market equilibrium law of demand price modelThe gazette states that the new national minimum wage is R20.76 – an increase of 3.8%”. Provide a discussion on the welfare effect of the above, that illustrates the case for when the above results in unemployment in the market for domestic workers as well as a case for when the above has no effect on the market for domestic workers. Use a diagram to support your discussion.
- Which statements are TRUE? 1. Factor substitution measures the degree of substitutability between factors of production in any given production. 2. The educational achievement of workers can bring about income equality but also income inequality. 3. The middle income trap is a measure of poverty that considers the deprivation of people in terms of health, education and standard of living of people. 4. The tax levied on goods and services which is finally borne by the end-consumer is known as indirect tax. 5. The GINI Coefficient relates the Lorenz Curve and the line of perfect quality of percentage of income and percentage of population. 6. Development process in the Philippines that is biased towards the urban areas is always justifiable from the perspective of Development Economics. 7. Up to this time, poverty is experienced more by women rather than men at the national and international level. 8. Free education is a means of reducing poverty among ethnic communities. 9.…Explain the definitions assumed by the table and cite specific figures in the table to explain the middle-income trap. (b) Explain the causes of the middle-income trap according to Arias and Wen.This question has to do with the minimum wage serving as an anti-poverty program. a. What percentage of a minimum wage increase goes to families below the poverty linenow versus in the 1990s? Why has this changed over the years? Make sure to use exactnumbers in your answer. b. Explain why families below the poverty line receive less than 100% of a minimum wageincrease. c. Jason is employed, earns the federal minimum wage, works 25 hours per week, works 52weeks per year, is single, and has no children. Given these numbers, Jason would bebelow the federal poverty line. Assume the federal minimum wage increases to $15 andJason continues to work 25 hours per week for 52 weeks per year. The large increase inJason’s earnings places him above the poverty line. Describe how it can be true thatJason’s earnings increase significantly, yet his total income (which is income from allsources combined) might be the same as it was before the minimum wage increase.
