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Homework Help, Chap 18

by: alicekhanh

Homework Help, Chap 18 Econ 121

Marketplace > Santa Ana College > Economcs > Econ 121 > Homework Help Chap 18
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About this Document

Answers key for Chapter 18
Gus Montes
Class Notes
Microeconomic, Econ, homework help
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This 3 page Class Notes was uploaded by alicekhanh on Thursday August 11, 2016. The Class Notes belongs to Econ 121 at Santa Ana College taught by Gus Montes in Spring 2016. Since its upload, it has received 14 views. For similar materials see Microeconomics in Economcs at Santa Ana College.


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Date Created: 08/11/16
1. The Lorenz curve for Bangladesh looks like this: How much income do individuals in the top income quintile in Bangladesh  receive? 41.3 percent 2. What would the Lorenz curve for lawyers represent? It would be a geometric representation of the distribution of income  among lawyers in a given country at a given time by quintile. 3. Why are we concerned with the distribution of income between whites and  blacks, but not between redheads and blondes? Research has shown that income differs substantially between whites  and blacks. Some of these variations are the result of sociological and  cultural differences, but a substantial fraction is the result of  discrimination. There is no evidence to indicate discrimination exists on  the basis of hair color. 4. The accompanying table shows income distribution data for three countries. b. Which country has the most equal distribution of income? Czech Republic.  c. Which country has the least equal? Mexico.  d. By looking at the three Lorenz curves, can you tell which country has the  most progressive tax system? Why or why not? No. You cannot tell which country has the most progressive tax system  without looking at the curves over time and examining other factors  that determine the curves’ shapes. 5. Should poverty be defined absolutely or relatively? Why? Arguments could be made for both approaches. Poverty could be  defined relatively, since one of our concerns is the distribution of  income. Poverty could also be defined absolutely, since another of our  concerns is that people have enough to eat. 6. How does social mobility in the United States compare to that in Britain?  Why do you think this is so? There is less social mobility in the United States than in Great Britain.  This is because there is greater discrimination in the United States.  Additionally, the United States has less effective expenditure programs  and a less progressive tax system than Great Britain. 7. Would the Lorenz curve for the world be more or less bowed out compared  to the Lorenz curve for the United States? The Lorenz curve for the world would be more bowed out, since income is very widely disparate among countries. 8. How has the median income of women compared to men changed since  1980? What do you think is the cause? Women’s income as a fraction of men’s income has risen because there  is lower discrimination against women, higher education levels among  women, and more women entering the workforce. 9. Is the class system in the United States more like a pyramid, diamond, or  pentagon? Why is this so? A pentagon. The reason is limited upward mobility in the United States.  10.How is the distribution of income related to the emergence of the Tea Party  and the Occupy movement? The Occupy movement emerged to protest increasing income inequality . The Tea Party has emerged to protest government redistribution  programs  11.Why did Bertrand de Juvenal argue for a high level of income inequality? Income inequality is necessary to sustain the arts, beauty, education,  and civilization. 12.In what instance would John Rawls support greater income inequality? He would support income inequality if it could make the least well­off  better in absolute terms.


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