Chapter 15: Problem 13
Why is there reluctance on the part of some in the United States to redistribute income so that greater equality n be achieved?
Chapter 15: Problem 13
Why is there reluctance on the part of some in the United States to redistribute income so that greater equality n be achieved?
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Get started for freeExplain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages. Given the rising cost of going to college, explain why a college education will or will not increase income inequality.
In country \(\mathrm{A}\), the population is 300 million and 50 million people are living below the poverty line. What is the poverty rate?
A group of 10 people have the following annual incomes: \(\$ 55,000, \$ 30,000, \$ 15,000, \$ 20,000, \$ 35,000\) \(\$ 80,000, \$ 40,000, \$ 45,000, \$ 30,000, \$ 50,000 .\) Calculate the share of total income each quintile of this income distribution received. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution for \(2005 ?\)
Many critics of government programs to help low income individuals argue that these programs create a poverty trap. Explain how programs such as TANF, EITC, SNAP, and Medicaid will affect low-income individuals and whether or not you think these programs will benefit families and children.
Which set of policies is more likely to cause a tradeoff between economic output and equality: policies of redistribution or policies aimed at the ladder of opportunity? Explain how the production possibility frontier tradeoff between economic equality and output might look in each case.
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