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?

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 third quintile. 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.

Below is a chart showing the Labor Force Participation rate for 15-64 year olds in the U.S. vs. Japan (called the 'Activity Rate' in the OECD data). Based on this chart, answer the questions below: FRED Actvity hate Aged 158 AN Persans r the thot Stanos Actvity RateAged 15 AN Persans for Apar 22 2002 2004 2006 010 2012 20 Sdng areas ndicale US recessioHIS Source Orgazation for Economc Co operaion and Develpment med souisled.org a) How could these trends in thé US & Japanese Labor Force Participation (LFP) rates impact per capita real GDP growth rates in their respective countries (i.e. in the U.S & in Japan)? Are there any factors which could mitigate the impact of these LFP trends on growth? b) What factors are likely to impact the trends in U.S. and Japanese LFP in the next year? Over the next 10 years?

13. Which of the following contributes most to the reduction in income inequality? A. TaxesB. WealthC. Transfer paymentsD. Earned income tax credits

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According to research published by the US Census Bureau, Select the correct answer below: there is a narrowing income disparity between the lowest and highest earners in the US. O income is more fairly distributed among people in the US in recent years O the income distribution between poor and rich has widened over time O more people have moved from poor class to middle class.

The richest 20% of the population in Economy B has approximately ______% of the economy's income. A. 5 B. 35 C. 40 D. 65 E. 95

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If the Gini coefficient of a nation in 1980 was 0.50 and in 2020 it was 0.40, the nation's O income inequality is less in 2020 O income inequality is more in 2020 O tax system is less progressive in 2020 O tax system is more progressive in 2020

quintile cumulativeshare of households a cumulative share of income b cumulative share of income poorest   10.5   2.5   2nd   13.2   6.8   middle   21.6   13.9   4th   26.4   24.2   richest   28.3   52.6