Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Chapter 15, Problem 29RQ
Describe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might nut have such effects.
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Describe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might not have such effects.
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List three policies that can affect the level of economic inequality.
Chapter 15 Solutions
Principles of Economics 2e
Ch. 15 - Describe how each of these changes is likely to...Ch. 15 - Jonathan is a single father with one child. He can...Ch. 15 - Imagine that the government reworks the welfare...Ch. 15 - We have discovered that the welfare system...Ch. 15 - How does the TANF attempt to loosen the poverty...Ch. 15 - A group 0f 10 people have the following annual...Ch. 15 - Table 15.9 shows the share of income going to each...Ch. 15 - Using two demand and supply diagrams, one for the...Ch. 15 - Using two demand and supply diagrams, one for the...Ch. 15 - Here is one hypothesis: A well-funded social...
Ch. 15 - Here is a second hypothesis: A well-funded social...Ch. 15 - Which set of policies is more likely to cause a...Ch. 15 - Why is there reluctance on the part of some in the...Ch. 15 - How is the poverty rate calculated?Ch. 15 - What is the poverty line?Ch. 15 - What is the difference between poverty and income...Ch. 15 - How does the poverty trap discourage people from...Ch. 15 - How can the effect of the poverty trap be reduced?Ch. 15 - Who are the near-poor?Ch. 15 - What is the safety net?Ch. 15 - Briefly explain the differences between TANF, the...Ch. 15 - Who is included in the top income quintile?Ch. 15 - What is measured on the two axes of a Lorenz...Ch. 15 - If a country had perfect income equality what...Ch. 15 - How has the inequality of income changed in the...Ch. 15 - What are some reasons why a certain degree of...Ch. 15 - What are the main reasons economists give for the...Ch. 15 - Identify some public policies that can reduce the...Ch. 15 - Describe how a push for economic equality might...Ch. 15 - What goods and services would you include in an...Ch. 15 - If a family of three earned 20,000, would they be...Ch. 15 - Exercise 15.2 and Exercise 15.3 asked you to...Ch. 15 - Explain how you would create a government program...Ch. 15 - Many critics of government programs to help...Ch. 15 - Think about the business cycle: during a...Ch. 15 - Explain how a country may experience greater...Ch. 15 - The demand for skilled workers in the United...Ch. 15 - Explain a situation using the supply and demand...Ch. 15 - What do you think is more important to focus on...Ch. 15 - To reduce income inequality, should the marginal...Ch. 15 - Redistribution of income occurs through the...Ch. 15 - How does a society or a country make the decision...Ch. 15 - Explain what the long- and short-term consequences...Ch. 15 - In country A, the population is 300 million and 50...Ch. 15 - In country B, the population is 900 million and...Ch. 15 - Susan is a single mother with three children. She...Ch. 15 - A group of 10 people have the following annual...
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Similar questions
- How does a society or a country make the decision about the tradeoff between equality and economic output? Hint: Think about the political system.arrow_forwardHere is one hypothesis: A well-funded social safety net can increase economic equality but will reduce economic output. Explain why this might be so, and sketch a production possibility curve that shows this tradeoff.arrow_forwardWho are the near-poor?arrow_forward
- Suppose each family in the United States earned an equal money income. What would be the effect?arrow_forwardWhy inequality still exist? Discuss your answer.arrow_forwardWhat is the main goal of redistribution policies in welfare economics? A. To increase government revenue B. To reduce income inequality C. To maximize consumer surplus D. To minimize deadweight lossarrow_forward
- How much age affects inequality? Is there something the government can do about younger and older people's incomes?arrow_forwardHow Should the US Reduce Economic Inequality? The rich are getting richer. And the super rich are getting super richer. We know some of the names: Warren Buffett, Bill Gates, Mark Zuckerburg, the Walton family (of Wal-Mart). This billionaire club is growing fast. In 2007, there were 946 billionaires in the world. By 2016, that number doubled to 1,810. Of these, 540 were Americans. A 2015 OxFam report warned that the combined wealth of the world's the widening gap is benefitting the top 1 percent. The top 0.1 percent is doing even better. As just one example, CEOS have seen the real value of their salaries increase more than 1,000 percent since the 1950s. Meanwhile, the average worker has seen the real value of his or her income decrease over the last three decades. EV richest 1 percent would soon surpass the com- bined wealth of the other 99 percent of people on the planet. Wealth inequality is an increasingly serious problem in the United States, a nation known as the land of opportu-…arrow_forwardHow does this document help answer the question, “How should the US reduce economic inequality?”arrow_forward
- You have learned that poverty is an concern which the government has programs to address. An example of this might be a program which will pay a person the same wage they would receive from a full time job. A situation like this would be an example of Select the correct answer below: How the poverty line is affected. How a guaranteed income program discourages work. O How different groups are affected by poverty. How people can get stuck in a poverty traparrow_forwardWhy is there an increase in poverty and inequality?arrow_forwardHow has assortative mating contributed to growing inequality? Taxes redistribute income from the poor to the rich O People marry someone similar to them, creating some households with many resources and others with few O Groups with political clout convince the government to implement exclusive institutions O New technologies like the internet create opportunities for the people with skills to use themarrow_forward
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