Incomes rise for both low-income and high-income workers

Assignment Help Business Economics
Reference no: EM13741691

If incomes rise for both low-income and high-income workers, but rise less for the high-income workers.

a) then poverty will rise and inequality will rise

b) then poverty will fall and inequality will rise

c) then poverty will fall and inequality will fall

 

d) then poverty will rise and inequality will fall

Reference no: EM13741691

Questions Cloud

Workers use riding mowers and push mowers : Ann owns a lawn mowing company. She has 240 lawns she needs to cut each week. Her weekly revenue from these 240 lawns is $8,400. If given an 18-inch deck push mower, a laborer can cut each lawn in two hours. If given a 60-inch deck riding mower, a la..
Rise in incomes is the same proportion : If a rise in incomes is the same proportion for both low-income and high-income workers.
Another ditch-digging firm that has seven backhoes : Suppose that for a firm that digs ditches for laying cable or pipeline, backhoes and backhoe operators are pure complements in production, being used on a one-for-one basis. Draw the isoquants (on a graph with backhoe, “K”, and backhoe operators, “E”..
Marginal product of sixth backhoe operator could be positive : Suppose that for a firm that digs ditches for laying cable or pipeline, backhoes and backhoe operators are pure complements in production, being used on a one-for-one basis. Draw the isoquants (on a graph with backhoe, “K”, and backhoe operators, “E”..
Incomes rise for both low-income and high-income workers : If incomes rise for both low-income and high-income workers, but rise less for the high-income workers.
Assume the natural rate of unemployment : The Sequester is probably a bad idea. Use the IS-MP model to explain what should happen to the economy if the government cuts spending by 1 percentage point of potential GDP.
How much can we expect this to increase unemployment rate : Assume that b=1/2 and that initially the real interest rate is equal to the marginal product of capital at 3%. As well, assume that v=2 and that the inflation rate last period was 2%. Assume the natural rate of unemployment is 5.5%. How much can we e..
Fundamental building block of the us economic way : Which of the following is viewed as a fundamental building block of the U.S. economic way of thinking?
Which the interest rate reaches its equilibrium value : Describe the process in the money market (demand and supply of/for money) by which the interest rate reaches its equilibrium value if it starts above equilibrium. (Principles of Macroeconomics)

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd