Population groups followed roughly the same patterns

Assignment Help Business Economics
Reference no: EM132127859

As noted in Chapter 14 of A&A, distribution of income among various population groups followed roughly the same patterns in the USA, Sweden, and the former Soviet Union, despite the very different forms of economic organization in each of those countries. Progressives and socialists today claim that if we had a planned economy in which government directed the direction of resources and confiscated money from wealthy people via high taxes, and then re-distributed those monies, that income inequality would be eliminated. Yet, that clearly was not the case in high-tax Sweden and the communist USSR. (In the USSR, the high-income groups tended to be those with membership in the Communist Party, about six percent of the population. Party membership was not easily obtained back then.)

Economically speaking, why would this situation be the case, despite what modern academics, politicians, journalists, and activists are saying today? Please be specific in your answer.

Reference no: EM132127859

Questions Cloud

Eliminating any employees : What would be an optimal decision for the firm, if it would like to make profit next year without eliminating any employees?
Underemployed and discouraged : If unemployment rate is 5.5% and underemployed, unemployed and discouraged workers is 8.4%. What is % of underemployed and discouraged.
Marginal benefit and marginal cost of abatement : What are the marginal benefit and marginal cost of abatement at socially efficient level of abatement? What is the net social benefit at the efficient level?
Demand for pretzels is relatively price elastic : The demand for salt is relatively price inelastic, while the demand for pretzels is relatively price elastic. How can you best explain why
Population groups followed roughly the same patterns : As noted in Chapter 14 of A&A, distribution of income among various population groups followed roughly the same patterns in the USA,
Taxi companies and airbnb competing with established hotels : They have been calling for the breakup of firms as diverse as energy companies and tech giants like Microsoft and Google because they believe these companies
What will be mo real gdp : Assume that the hypothetical economy of Mo has 8 workers in year 1, each working 1,500 hours per year (50 weeks at 30 hours per week).
How many tickets would the team sell if it behaved : i) How many tickets would the team sell if it behaved competitively? And what is the price of the ticket?
What is the elasticity of demand for tickets : Question 1: The Toronto Blue Jays raises ticket prices from $100 to $120 per seat and experience a decline in ticket sales from 12000 to 10000 per game.

Reviews

Write a Review

Business Economics Questions & Answers

  What are the challenges to achieve those objectives

Red Bull GmbH is the largest energy drink seller in the world. As the market leader in energy drink segment, Red Bull’s management team believes it is the time to expand their business into other segments in beverage industry, such as juice segment. ..

  Understanding the role of information systems

What major features of a business are important for understanding the role of information systems?

  Regarding policy changes that are presented

Write a paper answering the following regarding policy changes that are presented: What do you think were the three most influential factors in the global economic crises of 2008–2010 and why? Defend your answer with a detailed evaluation that demons..

  Transforming resources into goods and services

_______If an employee is involved with transforming resources into goods and services, then he is in

  Qthe deepwater horizon exploded on april 20 2010 after

q.the deepwater horizon exploded on april 20 2010 after drilling bps exploratory well in 5000 feet of water offshore

  What is the long-run market equilibrium in market

Suppose the daily demand function for pizza in Berkeley is Q = 1,525 – 5P. The variable cost of making Q pizzas per day is C(Q) = 3Q + 0.01Q2, there is a $100 fixed cost (which is avoidable in the long run), and the marginal cost is MC = 3 + 0.02Q. T..

  Bank lending-the money supply and interest rates

How is an open market bond purchase by the Fed expected to change bank reserves, bank lending, the money supply, interest rates, total spending, output, and employment (increase or decrease)?

  Final speed of the bowling ball

What is the final speed of the bowling ball if the collisions is elastic? Assume all variables are known to 3 significant figures and ignore friction.

  Analyze the role of innovation in executing change strategy

Analyze the role of innovation in executing change strategies. Examine how technology facilitates the implementation of change in today's workforce.

  Intels profit increases

Intel’s profit increases. the price of a share of its stock doesn’t change and the dividend doesn’t change. as a result, Intel’s PE ratio__________ and Intel’s dividend yield_________.

  Derive the monopoly price and quantity of dominant

Assume annual market demand for UVic coffee mugs is given by P=20-Q, where P is the price, and Q is the quantity of these fancy collector's items. Derive the monopoly price and quantity of Dominant both graphically and mathematically. In your graph s..

  Assume that the short-run cost and demand data

Assume that the short-run cost and demand data given in the table above confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion. Refer to the above table and information. If the firm sells 3 units..

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