Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter 28, Problem 4CQ
To determine
Perfect equality of opportunity and absence of intergenerational mobility.
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Inter-generational income mobility tells us about:
A) the extent to which the tax and transfer system reduced inequality
B) the relationship between parent and child incomes
C) none of the answers
D) the persistence of income inequality over the lifecycle
In a society with 240,000 households, 10,000 households earn $4 each, 4,000 households earn $2 each, 10,000 households earn $10 each, and the rest earn $1 each.What is the income share of the third quintile? (Not the cumulative income share, just the share of that quintile.) Please write down the answer with two decimal points in percentage form without the % sign. XX.xx, NOT XX.xx%
How do these trends differ from wealth and income distribution during the previous 70 years and why have they changed?
Chapter 28 Solutions
Economics: Private and Public Choice (MindTap Course List)
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- How can the implementation of targeted universal basic income programs effectively address poverty and promote economic mobility?arrow_forwardWhat are the similairities and differences of factor mobility and domestic factor mobility?arrow_forwardWhat are the major changes of the global distribution of income from 1980 to 2022, with figures, including both within country and between country inequality?arrow_forward
- The table below presents the percentage of total income that goes to a certain fraction of the population of the country of Sanaton. For example, according to the table, the bottom 40% of the population owns 25% of the total income generated in Sanaton. What is the income share of the third quintile? Cumulative percentage of population 20 40 60 80 100 Cumulative percentage of income owned 15 25 40 60 100arrow_forwardChoose a country of your choice and answer the following questions: I) is there any income inequality? Explain. ii) Is there a equality in income distribution?arrow_forwardMigration and income inequality is negatively related. Explain.arrow_forward
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