Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter P4, Problem 2KC
To determine
The impact of Lorenz curve lying above the diagonal.
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Question 2
Discuss the current situation of poverty level and income distribution in Malaysia. (Hint: How to determine people are living on poverty? What is the measurement of poverty and equal income distribution in Malaysia?
Support with related data and statistics on its improvement.
The association between poverty and agriculture sector is always been discussed by the policy maker. Discuss on the issue. (Hint: find related data and policy on agriculture that has been implemented by government of Malaysia to overcome this issue.)
Table 12-12United States Income Tax Rates for a Single Individual, 2009 and 2010.
2009 Tax Rates
Income Ranges
2010 Tax Rates
Income Ranges
15%
$0 – $28,000
10%
$0 – $10,000
28%
$28,000 – $70,000
15%
$10,000 – $30,000
31%
$70,000 – $140,000
27%
$30,000 – $60,000
36%
$140,000 – $300,000
30%
$60,000 – $150,000
40%
over $300,000
35%
$150,000 – $320,000
38%
over $320,000
Refer to Table 12-12. Kurt is a single person whose taxable income is $35,000 a year. What is his marginal tax rate in 2010?
Group of answer choices
10%
15%
27%
30%
Only typed answer
Unlike traditional social welfare programs, the Earned Income Tax Credit has been shown to increase:
a.
both equity and efficiency.
b.
equity but not efficiency.
c.
efficiency but not equity.
d.
neither equity nor efficiency.
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