Define the term households.

Q: The two sector model for income determination

A: An analytical framework of the economic theory that embodies stylized dynamic economies with the…

Q: What is the solution to the income disparity between affluent and poor?

A: Income disparity is such a condition which shows amount of total income that is unevenly distributed…

Q: --- percentage of population in second quintile:   % What percentage of the total income for the…

A: * ANSWER :-  Here the total population is divided into 5 quintiles. 0 - 20% - First quintile 20 -…

Q: What is the Gini Coefficient and how is it useful for a third world country. b. Using the following…

A: Macroeconomics refers to the branch of economics that deals with the economy as a whole.

Q: Of those Americans without health care protection, the poor and children comprise the majority. T or…

A: Meaning of Health Economics: Here, the term health economics refers to the scenario under which…

Q: State the three main components of the domestic factor income. Fast

A: According to the given question In simple words we can say that a domestic factor income also name…

Q: Studies indicate that married men on average earn more income than unmarried men of the same age and…

A: Correlation/interrelationship does not surely bring causation/causality. Marriage & income…

Q: United States data from the Congressional Budget Office at CBO.gov. Before-tax Income, rounded to…

A: Cumulative percentage of total population Croatia- 2000 Croatia- 2010  US- 2020 20% 8 9 5 40% 13…

Q: Due to a stagnant income for 23 years, the number of Mexicans who cannot buy the basic basket has…

A: Consumer price index is the average change in the prices for a basket of goods and services over…

Q: In an economy with perfect income equality the Gini coefficient would be

A: The Gini record, or Gini coefficient, measures pay appropriation across a populace.

Q: Instructions: Use the interactive tool to plot Lorenz curves for the information in the table.

A: Since you have asked multiple questions, we will solve the first three parts for you. If you want…

Q: Define the term cost-of-living index?

A: Cost-of-living refers to the amount of money that is required by an individual to maintain an…

Q: What is income redistribution? Be specific and provide at least three examples.

A: Economics deals with the scarcity and unlimited wants of the people. The economy is bagged by scarce…

Q: The U.S. unemployment rate for 20- to 24-year-olds went from 8.5% in 2007 to 16% in 2009, stayed…

A: In game theory Nash Equilibrium is an assortment of strategies, one for every player in a social…

Q: Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2,…

A: Income disparity occurs when an economy's income is not distributed evenly among its citizens. The…

Q: Describe the concept poverty line in detail

A: Poverty is an economic state of being in which an individual experiences a dearth of resources to…

Q: In season three of the TV show “The West Wing,”the federal government considers redefining…

A: Poverty is an economic issue that prevails in almost every country wherein the people are considered…

Q: How do you interpret the coefficient of the education variable in the following: wage -0.90 + 0.54…

A: Wage is the dependent variable. Education is the independent variable. -0.90 is the Intercept. It…

Q: According to research published by the US Census Bureau, Select the correct answer below: there is a…

A: US bureau is a federal organisation which produces data about the US people and economy

Q: 1. Briefly discuss what measuring inequality involves, and provide two examples for doing so.

A: 1. Different but related views can all be used to analyse inequality. The most used indicator is…

Q: The data in the table below shows the income of some random people in Massachusetts. If these were…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: Comparison of the share of the total income in a society that different groups receive measures:…

A: The answer is - income inequality.

Q: Which of the following Gini coefficients indicates that a country has an equal distribution of…

A: The Gini index/ Gini Coefficient is a measure of the distribution of income across a population.

Q: This question is based on the following chart below. 1977 Avg 1999 Avg Income Group Income Income…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Country Gini coefficient Ratio of income Poverty rates at 90th % households percentile to below 50%…

A: Statement 1:  Overall level of inequality is measured by the Gini coefficient.  Higher income…

Q: What is absolute poverty?

A: ‘Absolute Poverty’ means poverty defined on a universal basis without reference to the income of…

Q: Define the following terms 1 Poverty

A: There are some specific terms to explain specific conditions such as inflation, poverty, and so on.

Q: inequality

A: Inequality, in mathematics, the statement of the relation of numbers - between two numbers or…

Q: Indigenous people are ranked among the lowest income groups in Canada. O True O False

A: Indigenous economies relate to indigenous peoples' traditional and local economic systems.These…

Q: Consider ten households, A through J, whose incomes are as shown below (first line). A C D E F G H.…

A: The distribution of income among the different sections of the population varies in most countries.…

Q: Discuss alternatives approaches to measure welfare!

A: The study of how resource and good distribution affects social welfare is known as welfare…

Q: Paddy has lots of cousins. With a family reunion in the near future, Paddy decides to collect income…

A: please find the answer below.

Q: What is the formula of the per capita income given example of it please?

A: According to the given question Per capita income is basically considered as an income per head of…

Q: Differentiate size distribution and functional distribution of income.

A: Under economics, an important concern is distribution of income as it results in inequality. To…

Q: Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2,…

A: Income Disparity is defined as an event or situation which occurs when an economy's income is not…

Q: Explain the concept of absolute poverty and relative poverty.

A: According to the given question Poverty is what we can say that when the public or the people lacks…

Q: In Spain what is the divorce rate?

A: Divorce rates can be described as the total number of divorces occurring per 1,000 population within…

Q: Draw the Lorenz curve and calculate the Gini coefficient for two countries based on the following…

A: In economics, the Gini coefficient, additionally the Gini list and the Gini proportion, is a…

Q: SLO-4.1. The amount of money people have to spend after buying necessities such as food, clothing…

A: People has income which they spend of different types of goods such as on necessary goods and…

Q: What are the gross incomes?

A: Gross Income of households is the total income that the households earn from different sources like…

Q: OA. percentage of total income received by each quintile against the percentage of households in the…

A: Income is the progression of cash, acquired from elements of production. Then again, wealth is the…

Q: Describe how to calculate a Gini coefficient.

A: The Gini index (Gini coefficient) is a calculation of income distribution established by Corrado…

Q: Consider the following table with individuals in a country and their incomes: Individuals Income 5…

A: A Lorenz curve represents the inequality in income or wealth in an economy. The curve was developed…