Why do income inequalities diminish as an economy develops?

Question:

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

Step by Step Answer:

Related Book For book-img-for-question

Essentials of Economics

ISBN: 978-1259235702

10th edition

Authors: Bradley Schiller, Karen Gebhardt

See More Books

Question Posted: Aug 30, 2017 11:47 PM

See More Questions

1. In our simple model, if C = 100 + 0.8y, and I = 50, equilibrium output will be ______. 2. If in Exercise 3.1 I increase to 100, a. The equilibrium income will be ______. b. The multiplier is...
Its one of the ironies of American history that when the Pilgrims first arrived at Plymouth Rock, they promptly set about creating a communal society in which all shared equally in the produce of...
An economy has the production function Y=0.2(K + N). In the current period K = 100 and N = 100. a. Graph the relationship between output and capital, holding labour constant at its current value....
Song Corp's stock price at the end of last year was $26.25 and its earnings per share for the year were $1.30. What was its P/E ratio?
(a) Use Parsevals theorem for the DFT to derive a relationship between | X c1 [k] | 2 and |x[n]| 2 . (b) Use Parsevals theorem for the DFT to derive a relationship between |X c2 [k] | 2 and ...
All the following are current assets except a. marketable securities. b. investments. c. prepaid expenses. d. cash.
A political analyst would like to survey a sample of the registered voters in a county. The county has 47 election districts. How could the analyst use random numbers to obtain a cluster sample?
For each of the following inventory errors occurring in 2013, determine the effect of the error on 2013s cost of goods sold, net income, and retained earnings. Assume that the error is not discovered...
Emerging markets have become the most popular destination for consideration by many international and Multinational cooperation. i. Explain the term emerging markets and State five common traits of...
Do Programming Project 17 from Chapter 4, the Edoc calculator, except use a recursive function to calculate or help you calculate the maximum amount of experience points you can earn. Project 17 from...
If taxes were more progressive, would total output be affected?
Do we need more or less government intervention to decide WHAT, HOW, and FOR WHOM? Give specific examples.
Refer to the Demonstration Problem illustrated in the previous chapter on pages 161164. Prepare a 10-column worksheet for Internet Consulting Service, Inc., dated December 31, 2011. At the bottom of...
Based on your answer to Problem 31-16, what are the total tariff revenues of the U.S. government? What percentage do U.S. consumers ultimately pay because of a higher price generated by the tariff?...
Explain briefly changes in the audit expectation-performance gap in the United Kingdom between 1999 and 2008 and provide reasons for these changes.
What is a non-volume-related cost driver? Give two examples.
The TOC distinguishes between process batches and transfer batches. It also recommends that process batches vary according to the economics of efficiency at each stage of production. Considering the...
Three professors are grading a combined final exam. Each is grading different questions on the test. One professor requires 3 minutes to finish her portion, a second takes 6 minutes, and the third...
Finology Companys average collection period (DSO) is 37 days, which is only seven days longer than the net 30 terms the company offers credit customers. Fifty percent of Finologys customers pay on...
A local politician is concerned that a program for the homeless in her city is discriminating against blacks and other minorities. The following data were taken from a random sample of black and...
Consider two policiesa tax cut that will last for only one year and a tax cut that is expected to be permanent. Which policy will stimulate greater spending by consumers? Which policy will have the...
The economy is in a recession with high unemployment and low output. a. Draw a graph of aggregate demand and aggregate supply to illustrate the current situation. Be sure to include the...
In the early 1980s, new legislation allowed banks to pay interest on checking deposits, which they could not do previously. a. If we define money to include checking deposits, what effect did this...
Privack Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most...
HomeLife Life Insurance Company has two service departments ( actuarial and premium rating ) and two production departments ( advertising and sales ) . The distribution of each service department s...
Otsego Industries manufactured 300,000 units of product last year and identified the following costs associated with the manufacturing activity: Variable costs: Direct materials used Direct labor...

Why do income inequalities diminish as an economy develops?

Question:

Step by Step Answer:

As an economy develops more jobs become available and thus more ...View the full answer

Essentials of Economics

Students also viewed these Economics questions