If the level of incomes stay the same for low-income employees but increases for high-income employees,
then poverty will not change and inequality will fall.
then poverty will not change and inequality will rise.
then poverty will fall and inequality will rise.
then poverty will rise and inequality will fall.
then poverty will not change and inequality will rise.
(As income is not decreasing so poverty will not change but due to increase in income for high income employees so inequality will rise.)
If the level of incomes stay the same for low-income employees but increases for high-income employees,...
If an increase in incomes has identical proportion for both high-income and low-income employees, then poverty will fall and inequality will remain unchanged. then poverty will rise and inequality will rise. then poverty will fall and inequality will fall. then poverty will rise and inequality will remain unchanged.
Many believe that low incomes are the result of an unwillingness to work Some also contend that people making poor choices with regards to education leads to lower incomes. Others will argue that society is at fault for the existence of poverty. They contend that discrimination, poor schools, and crime ridden neighborhoods (among other things) make it difficult for individuals in such situations to escape the cycle of low incomes. In your opinion, to what degree is income inequality a...
7. If the demand for ramen noodles increases following a decrease in income, then: a. the law of demand does not apply to ramen noodles b. ramen noodles are normal goods c. ramen noodles are inferior goods d. ramen noodles and chicken noodle soup are substitute goods 8. Ceteris paribus, a decrease in the cost of producing yogurt will result in: a. an increase in the supply of yogurt b. a decrease in the supply of yogurt c. an increase...
Suppose consumer income in the United States increases, and at the same time, the price of crude oil rises. In the scenario above, the equilibrium price of gasoline: Will rise Will not change May rise, fall, or remain unchanged Will fall Question 35 (1 point) In the scenario above, the equilibrium quantity of gasoline: Will increase May increase, decrease, or remain unchanged Will not change Will decrease
A tax that requires those with low incomes to pay a smaller percentage of their income than high-income earners is a: flat tax. proportional tax. progressive tax. regressive tax.
assume that attractiveness of neighbourhood increases with number of high income households. if high income households can outbid the low income households, will the integrated outcome (mixed neighbourhood of high-income and low-income households) prevail? (urgent!!!)
Suppose an economic boom causes incomes to increase and, at the same time, drives up wages for the sales representatives who work for cell phone companies. Assume that smartphones are a normal good. This will cause the: price of cell phones and the equilibrium quantity to rise O price of cell phones to rise, but the change in the equilibrium quantity is unclear and depends on whether the shift in demand is larger or smaller than the shift in supply....
Suppose a country with two types of workers, high skilled and low skilled, has a comparative advantage in biotechnology and a comparative disadvantage in shoes. Under the Stolper-Samuelson theorem, which predicts increasing inequality due to international trade, expansion of trade will result in: 1. the fall in the real wage rate of both skilled and unskilled labor 2. the fall in the real wage rate of skilled and unskilled labor in the shoe industry 3. the rise in the real...
1. The level of income below which the federal government classifies a family as poor is called the: A. relative measure of poverty. B. poverty threshold. C. absolute measure of poverty. D. median income threshold. 2. What is the United States government's formal definition of the poverty line? A. It is the annual income level below which a household is exempt from taxes. B. It is a level of annual income equal to total income in society divided by the...
Ceteris paribus, if demand and supply both increase at the same time, equilibrium price and equilibrium quantity_ a. increases; may rise, fall, or stay the same, depending on the size of the two shifts. decreases; may rise, fall, or stay the same, depending on the size of the two shifts. c. may rise, fall, or stay the same, depending on the size of the two shifts; increases may rise, fall, or stay the same, depending on the size of the...