1) Imagine an economy of 10 individuals. Their annual incomes are reported below
ID: 1194812 • Letter: 1
Question
1) Imagine an economy of 10 individuals. Their annual incomes are reported below. Approximately what percentage of this economy’s income is held by the poorest 40% of the population?
18.6
39.9
13.6
2) Which of the following will NOT result in a leftward shift of the market demand curve for labor?
An increase in immigration.
A decrease in labor productivity.
An increase in the wage rate.
Name Income Name Income John $1000 Bob $300 Kitty $800 Salman $700 Walter $200 Dora $600 Steve $500 Anna $100 Samuel $800 Oprah $900Explanation / Answer
a)poorest 40% would include ANNA, WALTER, BOB AND STEVE
So their share in economy is 1100/5900.
b) An increase in immigration is surely not a result for leftward shift of the market demand curve for labor because this is cause which leads demand curve shift in.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.