What is the gini co-efficient

Assignment Help Microeconomics

Reference no: EM133662384

Questions:

1. What is the Gini Co-efficient? What does it measure and mean? What has been happening to this measure in the U.S over the last 50 years?

2. What is the number of the Gini Co-efficient when a country is 100% equal?

3. What is the number of the Gini co-efficient when a country is completely unequal? (one person in a country has ALL the income.)

4. What is the difference between wealth and income?

5. Give and explain one definition of a market.

6. Give and explain one reason why markets fail.

7. Consider the following Definition of GDP and put each part in your own words: GDP is a measure of total production It is the market value Of final goods and services That are newly produced Within a country's borders over a period of time.

8. What is the difference between real and nominal GDP? Why is this important?

Reference no: EM133662384

Questions Cloud

How has public health advocacy impacted your life personally : What does health advocacy mean to you? How has public health advocacy impacted your life personally?

What fraction of total resources is spent on education : What fraction of total resources is spent on education, and what fraction of total resources is spent on other public goods?

What qualifications a citizen should have to run for office : What qualifications a citizen should have to run for office? Which military branches government should support? What government should do and be responsible for

How many votes did two candidates who did not win receive : A vote is held to elect a new union president. How many votes did the two candidates who didn't win receive combined?

What is the gini co-efficient : What is the Gini Co-efficient? What does it measure and mean? What has been happening to this measure in the U.S over the last 50 years?

Lodged incident report factually : You are sitting in the nurses' station and have completed and lodged an incident report factually and objectively outlining Karen's poor communication skills

What branch of the us government article grants the power : Impressed during an interview to be an entry level analyst. What branch of the U.S. Government Article II grants the power over intelligence functions?

What is key performance indicator : What is a Key Performance Indicator (KPI)? Explain the importance of developing metrics and KPIs in logistics and supply chain operations.

Determine costs for last september for bluths frozen bananas : Consider the following costs for last September for "Bluth's Frozen Bananas", a firm selling frozen bananas in southern California.

User Account

All Pages