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1. When can inequality be a good thing? Explain
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- Which one is better? Equality or Equity? Give an example in which the government has done such a thing.How should social and economic inequalities be governed?what do each of the school of economics - classical, neoclasscial, austrian, marxian, keynesian, institutionalism, chicago, behavioural, feminist, buddhist, ecological and evolutionary economics think about income inequality and what there proposed solutions?
- How is inequality bad for the economy?1.What is "economic inequality"? Give some examples and explain your reasons?Suppose the teacher for your course, "Principles of Economics" is a libertarian and adheres strictly by its principles in running your economics class. What policies would you expect your teacher to institute? Policies a Libertarian Would Enforce Policies a Libertarian Would Not Enforce The teacher, seeing grade inequality, decides to give points from the best student's test to the worst's students test. The teacher decides to give everyone in the class an A. The teacher punishing a student for cheating on her income equality and poverty homework assignment. Grade the class on a curve to ensure even grade distribution. When proctoring a test, your teacher requires all students to be given the test face down and all turn over your tests at the same time so that no one has a time advantage.
- 2nd time posting the same questions to get better answers, Answer base on reading ...thanks How can the profit motive lead to income inequality? (Pages 33 – 35) pages 33 Investment is necessary but risky. It has already been establishedthat capitalism is the most effective and efficient system for wealthcreation and economic prosperity. The path to economic successconsists in investment that is guided by supportive governmentpolicies and institutions. The success of capitalism, in turn, isderived from the success of business enterprises in their roles asjob creators and income-generating agents. However, investmentrequires enormous risk and sacrifice, along with one’s willingnessto undertake such risky ventures, which are based on the potentialreturns on the investment capital. A successful investor must notonly possess organizational and managerial skills, but he or shemust also be willing to take enormous risks. Tanner (2016) madethe point that one of the prerequisites for economic…SITE 3 EXAMPLES OF GLOBAL INEQUALITY AND GIVE ATLEAST 1 SOLUTION TO THESE.How does a society or a country make the decisionabout the tradeoff between equality and economicoutput? Hint: Think about the political system.
- Why inequality still exist? Discuss your answer.How can profit motive lead to income inequality? (Pages 33 – 35) pages 33 Investment is necessary but risky. It has already been establishedthat capitalism is the most effective and efficient system for wealthcreation and economic prosperity. The path to economic successconsists in investment that is guided by supportive governmentpolicies and institutions. The success of capitalism, in turn, isderived from the success of business enterprises in their roles asjob creators and income-generating agents. However, investmentrequires enormous risk and sacrifice, along with one’s willingnessto undertake such risky ventures, which are based on the potentialreturns on the investment capital. A successful investor must notonly possess organizational and managerial skills, but he or shemust also be willing to take enormous risks. Tanner (2016) madethe point that one of the prerequisites for economic growth isto have individuals who are ambitious, skilled risk-takers andwho are ever striving for…Inequality, Social Insurance, and Redistribution-End of Chapter Problem Suppose one of your friends says that they pay taxes for no reason because the governmènt just hands cash out to people who do not truly deserve or need it. Your friend then says, "the system would be more productive if they made sure peopl who receive help are the ones who need it." Consider the tools that the government uses to help ensure aid goes to those in need, a. The social safety net programs fall into one of two categories: wealth or income. progressive or regressive. means-based or social insurance. relative or absolute. b. For aid qualification, people receiving aid must meet low income requirements, while aid is designed to insure everyone against bad outcomes. c. Another tool of the U.S. government is to provide transfers, such as SNAP benefits, instead of cash.