The distribution of income in the US should be more equal. Comment.

Solution Preview

The subject of the Distribution of income in the United States is another name for the tradeoff between equity versus equality. Do we want equality or efficiency? Could we achieve both? The question needs a lot of thoughts and macroeconomics seem to be able to answer some of those.
First, there are some issues of fairness on which almost everyone agrees. By identifying the many different causes of income inequality, we can at least pinpoint those types of inequality that almost all of us would regard as fair and those we would regard as unfair. For example, almost everyone agrees that that income inequality due solely to compensating wage differentials is entirely fair. If one worker must put up with longer hours, a greater risk of death, more unpleasant weather, a greater risk of unemployment, or more years of schooling than another, it is only fair that he or she be paid more. Thus, eliminating compensating wage differentials, which would make income more equal, would also make them less equitable to most of us.

The same holds for some of the inequality in property income. Remember the old fable of the grasshopper, who fiddled all day, and the ant, who prepared for the winter? Although many "well-t-do" Americans have inherited their wealth, many others have acquired ...

Solution Summary

The solution addresses the following question: The subject of the Distribution of income in the United States is another name for the tradeoff between equity versus equality. Do we want equality or efficiency? Could we achieve both? The question needs a lot of thoughts and macroeconomics seem to be able to answer some of those.

Builders of a hybrid car announced it would build a car that would get 180 miles per gallon of unleaded gas. They figured it would cost $40,000 per car to build. The builders wanted Congress to force US automakers to build this energy-efficient car.
Is energy efficiency the same thing as economic efficiency? Please explain

Please help with the following problem regarding competition.
In the purely competitive long-run equilibrium, P = minimum ATC = MC. Of what significance for economic efficiency is the equality of P and Minimum ATC? Of what significance is the equality of P and MC? Distinguish between productive efficiency and allocative

We are using the book Methods of Real Analysis by Richard R. Goldberg
(See attached file for full problem description)
---
12.5-2
Show that the Fourier series for is
a) Use 12.5E to show that Fourier series at t=0 converges to . Deduce that
12.5E: Theorem. Let ( this

F test for equality of variance conducted. Correct decision relative to the equality of variance
F-test for equality of variance
3.61 variance: Text message
2.11 variance: Internet
1.71 F
.1542 p-value
F-test for equality of variance
3.61 variance: Text message
2.49 variance: E-mail
1.45 F

The United States was founded on ideals of justice and equality. The Declaration of Independence proclaimed that all men are created equal, yet individuals such as African Americans and women were not afforded this equality. Examine whether justice and equality exist in the United States and, if not, in what areas there should b

Please help me with this question.
What do you understand by " productivity" and "efficiency"? Can you discuss three reasons why both concepts matter in any production activity?

Please review and answer the following questions with short explanations for answers.
Review the SPSS output file which reports the results of the independent t-test to compare the mean price per 6-pack for regular vs. reduced calorie brands of wheat beer. Answer the following questions based on your observations of the SPSS

Please help with these 2 problems in algorithm efficiency. View attached file.
1. Rank the terms of the following function according to their order of growth. Give explanation.
2. Consider the following algorithm where n is a positive integer.
What is the efficiency class of this algorithm? Show your reasoning.