(A)(B)(C)(D)Quintile IncomeIncomeIncomeLowest16%14%4%Income8%Second1815913Third20191517Fourth22222322Highest24304940Which of the income distributions in the accompanying table is closest to describing the United States (as ofMutiple Choice

Income distribution tells us how a given amount of national income or output is distributed among…

Answered: (A) (B) (C) (D) Quintile Income Income…

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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The accompanying table lists the incomes of five citizens of a hypothetical economy. Suppose the government introduces a new program for low-wage carners. Under this program, cach citizen is given a refund that is paid for with tax revenues and is equal to a percentage of the citizen's income. The chart shows applicable income brackets and the percentage to be refunded. Citizen Income ($) Income Range ($) Income Supplement (% of Original) Frankie 27000.00 0-17,000 40% Vinnie 33000.00 17,001-36,000 25% Artie 15000.00 36,001-52,000 10% Nicky 62000.00 52,001 and above 0% Jackie 25000.00 What is the amount of Frankie's refund? What is the amount of Artie's refund? What is the amount of Nicky's refund? Which of the following is a problematic feature of a welfare state that is mitigated by the supplement's gradual decline? the implicit marginal tax inflation a revenue shortfall recession
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(A) (B) (C) (D) Quintile Income Income Income Lowest 16% 14% 4% Income 8% Second 18 15 9 13 Third 20 19 15 17 Fourth 22 22 23 22 Highest 24 30 49 40 Which of the income distributions in the accompanying table is closest to describing the United States (as of Mutiple Choice