Economists Edward Lazear and Robert Michael calculated that the average family spends two and a half times

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Economists Edward Lazear and Robert Michael calculated that the average family spends two and a half times as much on each adult as they do on each child.

a. Does this mean that children are deprived and that the distribution is unfair?

b. Do you think these percentages change with family income? If so, how?

c. Do you think that the allocation would be different in a family in a command economy than in a capitalist economy? Why?

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Macroeconomics

ISBN: 978-1259663048

10th edition

Authors: David C. Colander

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Question Posted: Jul 19, 2024 02:05 PM

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Economists Edward Lazear and Robert Michael calculated that the average family spends two and a half times

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a The fact that more money is spent on adults than on children in the family does not ...View the full answer

Macroeconomics

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