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explain how information technology can increase income inequality if it is a complement to high-income workers like salespeople and managers.
Compute the share of total income received by each quintile of this income distribution.
Explain how does the earned income tax credit attempt to loosen the poverty trap?
Analyze how the production possibility frontier tradeoff between economic equality and output might look in each case.
Explain how a program that increased educational levels for a substantial number of low-skill workers could reduce income inequality.
A group of 10 people have the following annual incomes. Calculate the share of total income received by each quintile of this income distribution.
We have discovered that the welfare system discourages recipients from working. How does the earned income tax credit attempt to loosen the poverty trap?
Draw Jonathan's labor-leisure opportunity sets, both for before this welfare program is enacted and after it is enacted.
Explain what the long- and short-term consequences are of not promoting equality or working to reduce poverty.
How does a society or a country make the decision about the tradeoff between equality and economic output? Hint: Think about the political system.
What do you think is more important to focus on when considering inequality: income inequality or wealth inequality?
Given the rising cost of going to college, explain why a college education will or will not increase income inequality.
What goods and services would you include in an estimate of the basic necessities for a family of four?
Describe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might not have?
What are some reasons why a certain degree of inequality of income would be expected in a market economy?
Explain how the production possibility frontier tradeoff between economic equality and output might look in each case.
Read the following from Bell, M. (2009). An Invitation to Environmental Sociology.
After you find the data above, write 1 to 2 pages about a political economy issue related to the good or product, such as:
Outline a completely randomized design for this experiment. Describe a matched pairs design in which each girl receives both levels of calcium.
Describe the design of such an experiment to investigate effect of inhaling oxygen during rest period. Why should each player's two trials be on different days?
1. What do you think the Federal Reserve will do concerning interest rates over the next two years? Explain your reasoning.
Should the Fed remain independent from political authority or should the President and Congress have a say in their operations? Why? Why not?
One of the key contributors to aggregate demand is homeownership. Not only do new homes add to investment spending, but homeownership creates wealth.
Perhaps we should use biological materials such as blood sample only from patients who have agreed to allow the material to be stored for later use in research.
Problem: What are the similarities and differences between fiscal policy and monetary policy?