Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter 28, Problem 4CQ
To determine
Perfect equality of opportunity and absence of intergenerational mobility.
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Students have asked these similar questions
Inter-generational income mobility tells us about:
A) the extent to which the tax and transfer system reduced inequality
B) the relationship between parent and child incomes
C) none of the answers
D) the persistence of income inequality over the lifecycle
In a society with 240,000 households, 10,000 households earn $4 each, 4,000 households earn $2 each, 10,000 households earn $10 each, and the rest earn $1 each.What is the income share of the third quintile? (Not the cumulative income share, just the share of that quintile.) Please write down the answer with two decimal points in percentage form without the % sign. XX.xx, NOT XX.xx%
What are the similairities and differences of factor mobility and domestic factor mobility?
Chapter 28 Solutions
Economics: Private and Public Choice (MindTap Course List)
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Similar questions
- Explain why comparing educational attainment across immigrant generations and across countries of origin is complicated and can lead to misleading estimaes of intergenerational mobility?arrow_forwardExplain why a capitalist economic system tends to bring about a highly unequal distribution of income. Why did income inequality rise significantly in the U.S. after about 1980?arrow_forwardDistinguish between size and functional distributions of income in a nation. Which do you conclude is the more appropriate concept? Explain your answer.arrow_forward
- How do these trends differ from wealth and income distribution during the previous 70 years and why have they changed?arrow_forwardAnswer below questions with reference to the following figure, which reports population change in Australia (by age groups) over the period 1999 to 2019. What does the population pyramid indicate about Australia’s age structure? What is the potential implication of the observed age structure for Australia’s dependency ratio (youth versus elderly dependency ratio)? What does the population pyramid indicate about the stage of demographic transition in Australia?arrow_forwardSuppose that an additional year of schooling raised wages by 7 percent in 1970, regardless of the worker’s race or ethnicity. Suppose also that the wage differential between the average white and the average Hispanic was 36 percent. Finally, assume education is the only factor that affects productivity, and the average white worker had 12 years of schooling in 1970, while the average Hispanic worker had 9 years. By 1980, the average white worker had 13 years of education, while the average Hispanic worker had 11 years. A year of schooling still increased earnings by 7 percent, regardless of the worker’s ethnic background, and the wage differential between the average white worker and the average Hispanic worker fell to 24 percent. Was there a decrease in wage discrimination during the decade? Was there a decrease in the share of the wage differential between whites and Hispanics that can be attributed to discrimination?arrow_forward
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