Describe the Personal distribution of income
Describe the Personal distribution of income?
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1. It is defined as by separating the population equal parts into 5 numerically or in quintiles.
2. Each quintile are compared when Proportions of total income is obtainable.
3. Unequal distribution of income shows its Comparison. For example: the top quintile is relative to the bottom fifth it shows how many times greater the share of income.
Explain the following from Hull, England a news dispatch: “The fish market here slumped today to what local commentators called a ‘disastrous level’—all because of a shortage of potatoes”.
Adam Smith’s opinion of an “invisible hand” powerfully implies the meaning that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most peopl
Use the circular flow model to confirm this assertion for the levying of a tax on air polluters?
What is the most important source of revenue and the major type of expenditure at the local level?
What is the most important source of revenue and the major type of expenditure at the Federal level?
Contrast a vertically integrated firm, a horizontally integrated firm, and a conglomerate?
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Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product. If current output is such that marginal cost exceeds marginal benefit, should more or l
Comment on the following statement from a newspaper article: “Our junior high school serves a splendid hot meal for $1 without costing the taxpayers anything, thanks in part to a government subsidy.”
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