Income Inequality‚ Economic growth and its effects . Abstract “Some people are of the view that income inequality is a necessary part off the growth process‚ that it is generally unavoidable and that policy should focus on ensuring that everyone is doing better rather than focusing on narrowing the income gap” whilst other agrue that it hinders growth. This assignment was carried out to investigate and debate the theoretical and empirical views of the above statement as well as share my own
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DIFFERENCE BETWEEN CLASSICAL APPROACH TO MANAGEMENT & BEHAVIOURAL VIEWPOINT: The classical view point is all about the different-different methods and different ways for manage work and organizations more effectively. The classical view point includes the three types of approaches such as : 1. SCIENTIFIC MANAGEMENT 2. BUREAUCRATIC MANAGEMENT 3. ADMINISTRATIVE MANAGEMENT These approaches are related to mostly at the top level of management which include systematic and scientific analysis
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552. CHAPTER 5GROSS INCOME: EXCLUSIONS Question MC #1 The taxpayer’s marginal tax bracket is 25%. Which would the taxpayer prefer? a. $1.00 taxable income rather than $1.00 tax-exempt income. *b. $.80 tax-exempt income rather than $1.00 taxable income. c. $1.25 taxable income rather than $1.00 tax-exempt income. d. $1.30 taxable income rather than $1.00 tax-exempt income. e. None of the above. 553. CHAPTER 5GROSS INCOME: EXCLUSIONS Question MC #2 Cash received by an individual: a. Is not
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the poverty rates. However‚ the rates weren’t significantly improved in the number of Americans living in poverty. It is always the same old story where the gains from the economic growth go largely to the wealthiest Americans‚ and I believe that there should be an end to this. If you could just hear me out‚ and listen to the solutions I have to reduce both poverty and income inequality. As we mentioned above the United Sates still faces poverty problems. To address this problem the first solution
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increase 20% with response to an increase of 10% in income. Then the income elasticity of demand would be‚ Ey= (20%)/(10%)=2 The amount which the quantity demanded for a good change in response to a change in income depends on the type of goods. We can distinguish the types of goods as following‚ Normal goods - Ey > 0 – positive YED Luxury goods - Ey > 1 Necessities - 0 < Ey < 1 Inferior products - Ey < 0 – negative YED Let’s see how the income elasticity of demand deviates for normal goods and
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MULTIPLE-CHOICE QUESTIONS 1. If an increase in income results in an increase in the demand for chicken‚ then chicken is a/ an ___________________________. A. neutral good B. luxury good C. normal good D. inferior good 2. Two goods are complements if the ____________________. A. cross elasticity of demand is negative B. income elasticity of demand is negative C. cross elasticity of demand is positive D. income elasticity of demand is positive 3. If a 5%
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Another Inquiry on the Economic Welfare and Poverty in China The trade-off between economic growth and redistribution has become one of the major notes concerning the emerging economies of post-Cold War world. Adding to this struggle the urge to integrate into the international system while keeping the balances right at home has been another macro-level concern. In conjunction such liabilities not only necessitates the examination of fiscal and structural reforms but also the international trends
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MCIT(minimum corporate income tax) Under the CTRP‚ an MCIT equivalent to two percent (2%) of gross income is imposed beginning the fourth (4th) taxable year immediately following the taxable year in which such corporation started its business operations. The MCIT is imposed whenever such corporation has zero or negative taxable income or whenever the amount of the MCIT is greater than the regular corporate income tax due from such corporation. An MCIT equivalent to two (2%) of the gross income derived from
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Here‚ we describe estimation and hypothesis-testing procedures for the difference between two population means when the samples are dependent. In a case of two dependent samples‚ two data values—one for each sample—are collected from the same source (or element) and‚ hence‚ these are also called paired or matched samples. For example‚ we may want to make inferences about the mean weight loss for members of a health club after they have gone through an exercise program for a certain period of time
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Income and substitution effects The inverse relationship between price and quantity demanded results from both an income effect and a substitution effect. A change in price causes a change in both the relative price of the product and the purchasing power of the consumer’s income. Either one of these changes taken in isolation would bring about a change in the quantity demanded. One can think of the total change in quantity demanded brought about by a change in price as being the sum of these two
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