QUESTION 4 ANALYZE THE DATA Launch Globalization by the Numbers Interactive Infographic - Income Inequality. https://services.wwnorton.com/aws/other?file=/wwnorton.college.public/sociology/gbn_animations/income_inequality_essoc7/index.htm In which of the following countries does the top 10% of the population hold over 50% of the income share? O a. Brazil O b. Canada O C. South Africa O d. United States

To combat income inequality and to generate increased tax revenues to fund expenditures, government officials decide to aggressively increase how progressive income taxes are, so much so that the top income earners are marginally taxed 90% of their income (and while this marginal tax rate may seem oppressive, these top income earners still have more than enough income to satisfy all of their needs and all but the most extravagant of wants - basically, these earners have more than enough money).   Argue why this tax policy is a fair approach to fund government expenditures.   Why might this tax policy fail to achieve its objectives (tax revenues would actually decline as a result)?

For Question 7 please refer to the chart below of the Lorenz Curve for Paraguay and Germany for 2014: Percent of Total Income Paraguay -Germany Percent of Total Population Based on the table above, which of the following is true; Paraguay has a greater degree of Income Inequality Germany has a lower Gini-Coefficient Paraguay has a higher Gini-Coefficient Germany has a greater degree of Income Inequality

1 According to Chapter 9 (Unemployment, Inflation & Business Cycles), a "negative GDP gap" describes an economy that is underperforming versus the full-employment potential. True or Fase True False If two million new babies were born in the U.S. and if two million more immigrants came to the U.S., then the Real GDP Per Copita will go down if we assume no change in the actual GDP number. True or False True False