There are 2.4 billion people are in severe poverty with less than $2 of income per day.

Question:

There are 2.4 billion people are in “severe” poverty with less than $2 of income per day.

(a) What is the maximum combined income of this “severely” poor population?

(b) What percentage of the world’s total income (roughly $75 trillion) does this represent?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

See More Books

Question Posted: May 30, 2018 03:52 AM

See More Questions

SAS (pronounced "sass"), which is short for Statistical Analysis System, began when it set out to create statistical software to help agricultural researchers who were studying the effects of soil,...
Our common future is at risk from climate change. Behind the summary numbers - 74 trillion of cumulative global damages, the social cost of carbon at 70 per tone and rising - lies a story of...
I. Using the competing values framework as a point of reference, how would you describe the current organizational culture? Provide examples to support your conclusions. 2. What type of culture is...
Beginning from rest, an object of mass 200 kg slides down a 10-m-long ramp, the ramp is inclined at an angle of 40 from the horizontal. If air resistance and friction between the object and the ramp...
A biologist has a 40% solution and a 10% solution of the same plant nutrient. How many cubic centimeters of each solution should be mixed to obtain 25 cc of a 28% solution? Explain
The risk-free rate of return is 8%, the expected rate of return on the market portfolio is 15%, and the stock of Xyrong Corporation has a beta coefficient of 1.2. Xyrong pays out 40% of its earnings...
You have a bar magnet and a circular conducting loop, and you wish to induce a current in the loop that changes direction regularly: clockwise, counterclockwise, clockwise, and so on. Explain how to...
Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek as of May 1, 2018 (unless otherwise indicated), are as follows: During...
3. As. Mr. Cartwright's financial advisor, would you urge him to go ahead with, or to reconsider, his anticipated expansion and his plans for additional debt financing? As the banker, would you...
Apple Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a...
The World Banks threshold for extreme poverty is $1.25 per person per day. (a) How much annual income does this imply for a family of four? (b) What portion of the official U.S. poverty threshold...
In Namibia, (a) What percentage of total output is received by the richest 10 percent of households? (b) How much output did this share amount to in 2014, when Namibias GDP was $14 billion? (c) With...
Julia says, I heard that companies use software to do their accounting. Why do we need to learn how to draw T-accounts and prepare trial balances manually? Explain why knowing the basics of...
A 30 Year Mortgage Loan For 100,000 Has Monthly Payments Of $400 Each Month. What Will Be The Monthly Payment For A 250,000 Loan At The Same Interest Rate?
Inflation is expected to remain relatively constant at about 3.5% per year for the next ten years. How much money will be required in 10 years to purchase will an item that costs $100 today?
President Putin enjoys widespread support in Russia and was elected in a vote that was seen as fair? Given this fact, why do many Western observers call Russia an authoritarian democracy? Does the...
Write a Program to find average of all nodes in a Linked List Given a singly linked list. The task is to find the average of all nodes in a linked list is shown as following example: Input:...
A lease agreement that qualifies as a finance lease calls for annual lease payments of $50,000 over a four-year lease term (also the asset's useful life), with the first payment on January 1, the...
Using your knowledge of the college environment, identify three transactions that might be handled by online transaction processing (OLTP) systems.
The sales department of P. Gillen Manufacturing Company has forecast sales in March to be 20,000 units. Additional information follows: Finished goods inventory, March 1 . . . . . . . . . . . . . . ....
Amir made taxable gifts as follows: $800,000 in 1975, $1.2 million in 1999, and $600,000 in 2017. What is Amirs gift tax liability for 2017?
Yolanda and Xavier, spouses, have four adult children, Andy, Betty, Cathy, and Danny. In 2017, they made a number of gifts. Yolanda gave Andy cash of $40,000 and Betty stock valued at $60,000. Xavier...
Refer to the facts of Problem C:12-36 and assume the current year is 2017. Emilys prior gifts are as follows: Year ___________Amount of Taxable Gifts 1974 ......................... $ 500,000 1998...
Consider a plane of mass 50,000 kg in takeoff when the thrust for each of its four engines is 25,000 N. If the plane is facing an air drag force of 10,000 N; What is the acceleration of the plane?
Discuss the rationale and ways in which developers are regulated in relation to the acquisition and development of land in Singapore.
Interview an individual who has a chronic illness. With the individual's permission, interview them about what it is like to live with a chronic illness, the most difficult parts of being chronically...

There are 2.4 billion people are in severe poverty with less than $2 of income per day.

Question:

Step by Step Answer:

a 1752 trillion per year b 23 percent Feedback a The maximum combined incom...View the full answer

The Macro Economy Today

Students also viewed these Business questions