Explain how the Lorenz curve is used as a measure of Income Distribution. Is this a good tool? Why or why not? kindly don't give me a long answer.
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- What is measured on the two axes of a Lorenz curve?Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage labor market, explain how information technology can increase income inequality if it is a complement to high-income workers like salespeople and managers, but a substitute for low-come workers like file clerks and telephone receptionists.Explain how you would create a government program that would give an incentive for labor to increase hours and keep labor from falling into the poverty trap.
- To reduce income inequality, should the marginal tax rates on the top 1 be increased?Redistribution of income occurs through the federal income tax and government antipoverty programs. Explain whether or not this level of redistribution is appropriate and whether more redistribution should occur.Table 15.9 shows the share of income going to each quintile of the income distribution for the United Kingdom in 1979 and 1991. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. How did inequality in the United Kingdom shift over this time period? How can you see the patterns in the quintiles in the Lorenz curves?
- The graph shows the Lorenz curve for income. In the graph, the second poorest 20 percent of households earn the income certesa OA. 20 B. 5 OC. 9 OD. 14 Click to select your answer Forencio Gasto eatment D KIDEES AUNT DONT CALL HERI WILL TEXT HER AND FIND OUT 18 App XX percent of 18 Appl 100- ASUS 90- 80+ 70- 60- 50- 40- 30- 20- 10+ Tamhner, Rasha Pel Other a Rejane D Stretchmans DI2 HBL) 32-428 10650 Cumulative percentage of income Cumulative percentage of households doWhat is the Lorenz Curve and how do you use it to calculate a Gini coefficient?Explain Lorenz curve in short witha diagram
- Are poverty rates rising or decreasing in the US? How has the gap between the rich and poor increased? references?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.What are the causal connections and intersections between poverty andwider social problems(such as homelessness, substance misuse, mental andphysical ill health)?