Table 15.9 shows the share of income going to each quintile of the income distribution for the
Question:
Table 15.9 shows the share of income going to each quintile of the income distribution for the United Kingdom in 1979 and 1991. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. How did inequality in the United Kingdom shift over this time period? How can you see the patterns in the quintiles in the Lorenz curves?
Table 15.9
Transcribed Image Text:
Top quintile Fourth quintile Middle quintile Second quintile Bottom quintile Share of Income 39.7% 24.8% 17.0% 11.5% 7.0% 1979 42.9% 22.7% 16.3% 11.5% 6.6% 1991
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
Just from glancing at the quintile information it is fairly obvious that income inequality increased ...View the full answer
Answered By
Nicholas Maina
Throughout my tutoring journey, I've amassed a wealth of hands-on experience and honed a diverse set of skills that enable me to guide students towards mastering complex subjects. My proficiency as a tutor rests on several key pillars:
1. Subject Mastery:
With a comprehensive understanding of a wide range of subjects spanning mathematics, science, humanities, and more, I can adeptly explain intricate concepts and break them down into digestible chunks. My proficiency extends to offering real-world applications, ensuring students grasp the practical relevance of their studies.
2. Individualized Guidance:
Recognizing that every student learns differently, I tailor my approach to accommodate various learning styles and paces. Through personalized interactions, I identify a student's strengths and areas for improvement, allowing me to craft targeted lessons that foster a deeper understanding of the material.
3. Problem-Solving Facilitation:
I excel in guiding students through problem-solving processes and encouraging critical thinking and analytical skills. By walking learners through step-by-step solutions and addressing their questions in a coherent manner, I empower them to approach challenges with confidence.
4. Effective Communication:
My tutoring proficiency is founded on clear and concise communication. I have the ability to convey complex ideas in an accessible manner, fostering a strong student-tutor rapport that encourages open dialogue and fruitful discussions.
5. Adaptability and Patience:
Tutoring is a dynamic process, and I have cultivated adaptability and patience to cater to evolving learning needs. I remain patient through difficulties, adjusting my teaching methods as necessary to ensure that students overcome obstacles and achieve their goals.
6. Interactive Learning:
Interactive learning lies at the heart of my approach. By engaging students in discussions, brainstorming sessions, and interactive exercises, I foster a stimulating learning environment that encourages active participation and long-term retention.
7. Continuous Improvement:
My dedication to being an effective tutor is a journey of continuous improvement. I regularly seek feedback and stay updated on educational methodologies, integrating new insights to refine my tutoring techniques and provide an even more enriching learning experience.
In essence, my hands-on experience as a tutor equips me with the tools to facilitate comprehensive understanding, critical thinking, and academic success. I am committed to helping students realize their full potential and fostering a passion for lifelong learning.
4.90+
5+ Reviews
16+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The share of income going to physical capital in both Colombia and Costa Rica is about 10%, so we can represent the production function for real GDP per worker as y = Ak1/10. The capitallabor ratio...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Let S be the portion of the cylinder y = e x in the first octant that projects parallel to the x-axis onto the rectangle R yz : 1 y 2, 0 z 1 in the yz-plane. Let n be the unit vector normal to S...
-
An accident in Florida killed three of the four members of a family from Alabama who were riding in their Kia automobile that had been bought in Alabama. Suit was filed in Alabama state court against...
-
Here is a proposed income statement of a childrens clothing store: List and describe any shortcomings of this statement. Kids 2 Klad Statement of Profit and Loss, December 31, 20X1 Revenues: Sales...
-
When calculating a firms return on total assets (ROA) ratio, some investment professionals modify the ROA ratio by adding back the interest expense paid by a firm to its creditors, on a net-of-taxes...
-
On January 1, Newkirk Company issued $300,000, 8%, 10-year bonds at face value. Interest is payable annually on January 1. Instructions Prepare journal entries to record the following events. (a) The...
-
Presented below are selected transactions for the Sunland Company for 2023. Jan. April Your answer is partially correct. Dec. 1 30 31 Retired a piece of equipment that was purchased on January 1,...
-
A group of 10 people have the following annual incomes: $24,000, $18,000, $50,000, $100,000, $12,000, $36,000, $80,000, $10,000, $24,000, $16,000. Calculate the share of total income that each...
-
How does the TANF attempt to loosen the poverty trap?
-
Explain the distinction between a real address and a virtual address.
-
In the year 2 0 7 5 , a Martian society receives its atmospheric data from a satellite that orbits Mars with a speed of 1 . 7 9 km / s on a circular path at an altitude of 1 0 0 0 0 km . The radius...
-
calculate the financial ratios for the company after analyzing the financial highlights. Income Data (5000 except per share data) 2018 2017 2016 2015 2014 Net Sales 433,947 405,232 383,977 358,632...
-
Activity-Based Costing is likely to be most beneficial to firms with which characteristics? manufactures a single product.has a multi-product range that use similar processes.has a multi-product...
-
The total number of work packages which may go over the planned budget in a project consisting of 113 WPs and a reliability of 82 percent, assuming the management seeks 95% confidence for coverage of...
-
A Jonny Roadhouse music sells guitars. The guitars come in three different brands: Fender, Gibson, and Ibanez. Fender constitutes 36% of the store's inventory, Gibson constitutes 27%, and Ibanez...
-
Write the Excel binomial formula for each probability. a. Three successes in 20 trials with a 30 percent chance of success. b. Seven successes in 50 trials with a 10 percent chance of success. c. Six...
-
Danielle has an insurance policy with a premium of $75 per month. In September she is in an accident and receives a bill worth $2990 for the repair of her own property. Her deductible is $250 and her...
-
For each of the following independent transactions, indicate whether there was an increase, decrease, or no impact on each financial statement element. Transaction Received cash for sale of asset (no...
-
The following historical information is from Assisi Community Markets. Calculate the working capital and current ratio for each year. What observations do you make, and what actions might the owner...
-
Which of the following statements is true? A. Tangible assets lack physical substance. B. Tangible assets will be consumed in a year or less. C. Tangible assets have physical substance. D. Tangible...
-
Your firm, ICT Outsourced Solutions Provider (ICTISP), provides outsourced ICT support and helpdesk services to all SME's across Australia. Your services were recently acquired by AIBT. In this...
-
Helena and Daniel were divorced under an agreement executed on July 1, 2023. The terms of the agreement provide that Helena will transfer to Daniel her interest in a rental house worth $300,000 with...
-
Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2 0 1 8 : April May June Credit sales $ 3 2 2 , 0 0 0 $ 3 0 2 , 0 0 0 $ 3 6 2 , 0 0 0 Credit...
Study smarter with the SolutionInn App