Determine the midtown and polarity income inequality ratio.

Question

Want to see the full answer?

Answer 1

Question

Chapter 15, Problem 3SP

To determine

Determine the midtown and polarity income inequality ratio.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Consider five individuals, of whom three have zero income and two have $10,000 each. Based on Gini's original formula (G'), income inequality in this group is [gini). Enter a number to two decimal places and add the zero, as in 0.25 Consider five individuals, of whom three have zero income and two have $10,000 each. Draw the Lorenz curve. Note that the area under the line of perfect equality is 0.5. The area below the Lorenz curve is . The area between the Lorenz curve and the line of perfect equality is . The Gini coefficient (area method) is In all cases enter numbers to one decimal place and add the zero, as in 0.5

Your friend points to the wages earned by your economics professor and her teaching assistant (TA) as an example of income inequality. Your tenured professor earns $120,000$120,000, drives a BMW, and vacations in Europe, whereas your TA earns $10,000$10,000 per year, rides a bike, and vacations at his mom's house. Because they both teach for a living, your friend argues that this income inequality is not just. Which reply uses the economic life cycle to respond to your friend's argument? Your professor has more bargaining power than your TA and, therefore, has higher earnings. Your professor and TA earn different amounts now but they will have similar earnings over the course of their lives. Your professor was once a TA, and your TA will one day make better money. Your professor has many more responsibilities than your TA and is, therefore, paid more. Older workers typically have more expenses than younger workers due to the high cost of healthcare and other costs…

What is the urban inequality rate compared to national inequality rate in Rio de Janeiro? Give a comparison of urban poverty and urban inequality rates in Rio.