(a) Compute the average income of U.S. households.
Instructions: Enter your response to the nearest whole number.
(b) If all incomes were equalized by government taxes and transfer payments, how much would the average household in each income quintile gain (via transfers) or lose (via taxes)?
Instructions: If you are entering negative numbers include a negative sign (-). Enter your response to the nearest whole number.
i Highest fifth $ .
ii Second fifth $ .
iii Third fifth $
iv Fourth fifth $ .
v Lowest fifth $ .
(c) What is the implied tax (i.e., tax/average income) on the highest quintile?
Instructions: Enter your response rounded to one decimal place.
%.
How much more output (income) per year will have to be produced in the world just to provide the 2.7 billion "severely" poor population with $1 more output per day?
Instructions: Enter your response to one decimal place.
$ billion
Using the average yearly growth rates provided in the table below, calculate the index of real GDP and population growth between 2000 and 2010 for China, Canada, and Zimbabwe. Assume that the value of this index is equal to 100 for the year 2000. Calculate the growth rates for these three countries using the compounding growth function.
Attachment:- Refertothe.rar