The government announces programs designed to reduce the share of income going to the top quintile from 60% to 20%.You predict that the most likely result is that:O mean household income will fall, because the highest income earners will earn less and work less.median household income will rise, because some of the 40% of redistributed income will be transferred to the thirdquintile.after redistribution, each quintile will receive 20% of total wealth.O the lowest quintile will receive the 40% taken from the top quintile and switch places.

The inquiry centers around the anticipated consequences of a governmental policy aimed at income…

The government announces programs designed to reduce the share of income going to the top quintile from 60% to 20%. You predict that the most likely result is that: O mean household income will fall, because the highest income earners will earn less and work less. O median household income will rise, because some of the 40% of redistributed income will be transferred to the third quintile. after redistribution, each quintile will receive 20% of total wealth. the lowest quintile will receive the 40% taken from the top quintile and switch places.

The government announces programs designed to reduce the share of income going to the top quintile from 60% to 20%. You predict that the most likely result is that: O mean household income will fall, because the highest income earners will earn less and work less. O median household income will rise, because some of the 40% of redistributed income will be transferred to the third quintile. after redistribution, each quintile will receive 20% of total wealth. the lowest quintile will receive the 40% taken from the top quintile and switch places.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 6SCQ: A group 0f 10 people have the following annual incomes:...

See similar textbooks

Similar questions

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?
Table: Income Distribution in Four Countries provides recent data from the World Bank on the distribution of income in four countries. Percent income top quintile Percent income middle three quintiles combined O Bangladesh. Costa Rica. Table: Income Distribution in Four Countries Bangladesh El Salvador 41.4% 46.4% O Mexico. 50.0% 47.7% 8.6% Percent income bottom quintile Based on the data, the country with the distribution of income that is closest to equal is: El Salvador. Mexico 50.1% 5.9% 44.2% Costa Rica 54.0% 5.7% 41.8% 4.2%
Suppose there is an economy where 80 percent ofpeople earn more than their parents and 40 percentend up in a different income quintile than theirparents. What measure of the income distributiondoes the first statistic tell you about? What aboutthe second?
overty and Income Distribution in America: How Do We Measure Income Distribution ? Year Lowest Quintile | to 20% 60% 80% Тор 5% 40% to to to 40% 60% 80% 100% 1967 4.0 1970 4.1 1975 4.3 1980 4.2 1985 3.9 1990 3.8 1995 3.7 2000 3.6 2005 3.4 2010 |3.3 2013 3.2 10.8 10.8 17.3 24.2 43.6 17.2 17.4 24.5 43.3 16.6 10.4 17.0 24.7 43.6 16.5 16.5 17.6 10.2 16.8 24.7 44.1 9.8 16.2 24.4 45.6 9.6 15.9 24.0 46.6 18.5 9.1 15,2 23.3 48.7 21.0 8.9 14.8 23.0 49.8 22.1 22.2 23.0 23.4 50.4 8.6 8.5 14.6 14.6 50.3 21.3 8.4 14.4 23.0 51 22.2 O4:45/ 11:42 YouTube Q E: CC LJ Is increased income inequality a natural outcome of the a capitalist system? Select one: a. Yes b. No
Officials in fluxemburg are concerned about the current level of income inequality in their country, where the highest quintile of families currently earns 60% of the country's income. The central government has income information on its citizenry, and they want you to help them interpret the data from a 15-year period. The following table gives data on how families have moved between income quintiles between the years shown. ral in the missing values in the distribution table for familles in Fluxemburg; then use the information in the table to answer the following questions. Income Distribution in 2007 (Percent) Third Quintile Fourth Quintile Lowest Quintile Income Distribution in 1992 Highest Quintile Second Quintile Highest Quintile Second Quintile Third Quintile Fourth Quintile Lowest Quintile 65 12 13 51 18 8 12 -0* 52 Looking at families in the lowest quintile of income in 1992 (bottom row), you can report that higher quintile of income distribution by 2007. 6 10 16 57 11 5 14 66…
z/attempt.php?attempt=321446&cmid%3D203021&page%3D3 O E. 0.78. Which of the following is not counted in the GNP of the United States? Lütfen birini seçin: O A. The wage earned by a Japanese citizen who who works in Japan. O B. The wage of a U.S. citizen who works in a foreign country for a foreign firm. O C. The interest earned by a U.S. bank on loans to a business firm located in Brazil. OD The value of services that are produced by state and local governments in the United States. OE. The profit earned by a restaurant located in the United States but owned by a Mexican company Refer to the information provided in Table 22.4 below to answer the question(s) that follow.
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 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 for 2005?
The breakeven level of income is the O Level of income above which a person loses all welfare benefits. O Lowest level of income at which in-kind benefits are no longer necessary. O Amount of income a person must have to reach the poverty line. O Level of income at which an individual household begins to have some discretionary income.
How has the distribution of household types inthe United States been changing? What are theimplications of these shifts?
A group of 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?
As income transfer programs accompanying the War on Poverty increased beginning in the latter half of the 1960s, what happened to poverty in the United States? Check all that apply. O The adjusted poverty rate has declined rapidly and is now less than half of the official poverty rate. O The poverty rate declined substantially in the period before the War on Poverty, but not in the period after the start of the War on Poverty. O In 2018, the adjusted poverty rate was only 4 percentage points lower than the official rate in 1970. O The War on Poverty has been largely ineffective in reducing the rate of poverty in the United States.
In season three of the TV show “The West Wing,”the federal government considers redefining thenational poverty measure in a way that wouldclassify an additional 4 million people as poor.The president worries that his administration willbe criticized for leading the country into greaterpoverty. Explain whether this change would havereflected a shift in an absolute measure of poverty,a relative measure of poverty, or whether it cannot be known. Finally, explain why all else equal,the president is not responsible for causing greaterpoverty