Section A: Instruction: This section is mandatory and contains only one question. Question 1: There are a total of fifteen (15) citizens living in a certain country. Seven (7) are farmers, each of whom earns $200 per year in income. Five (5) others are small businesswomen, each of whom earns $500 per year. Two (2) additional citizens have been elected, one as Mayor with an annual income of $700 and the other as President, with an income of $1,200 per year. The final resident owns a factory, and makes $1,800 each year. a. Give the total income in the country and fill in the following table based on the information given (Show the details of your computations): Income Group % of Total Income received Poorest 20% Poorest 40% Poorest 60% Poorest 80% Poorest 100% b. Discuss the different poverty measures that you know by emphasizing on their differences.

Section A: Instruction: This section is mandatory and contains only one question. Question 1: There are a total of fifteen (15) citizens living in a certain country. Seven (7) are farmers, each of whom earns $200 per year in income. Five (5) others are small businesswomen, each of whom earns $500 per year. Two (2) additional citizens have been elected, one as Mayor with an annual income of $700 and the other as President, with an income of $1,200 per year. The final resident owns a factory, and makes $1,800 each year. a. Give the total income in the country and fill in the following table based on the information given (Show the details of your computations): Income Group % of Total Income received Poorest 20% Poorest 40% Poorest 60% Poorest 80% Poorest 100% b. Discuss the different poverty measures that you know by emphasizing on their differences.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 36CTQ: Recycling is a relatively inexpensive solution to much of the environmental contamination from...

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