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.
Use the circular flow model to confirm this assertion for the levying of a tax on air polluters?
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.”
Define the term Mixed Economy and also state their advantages and disadvantages?
Assume that melons sell for $5 in Brazil when moose pelts sell for $10, still into Canada melons sell for $10 as well as moose pelts sell for $5. A person who buys moose pelts within Canada to sell into Brazil would be doing: (1) speculation. (2) the “invisible
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Briefly explain the term Average cost and Marginal cost?
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