Answered: A discussion relating to the attributes…

Business

Economics

A discussion relating to the attributes that make the Gini coefficient a desirable means of measurement.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter33: Income, Income Distribution, And Poverty

Section: Chapter Questions

Problem 12E

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You are a brand analyst working for a large multinational retail organisation in South Africa. Theorganisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of thehighest inequality rates in the world, with a Gini Coefficient of 0.643.”The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to theimplications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Ginicoefficient was derived: Answer the following: 1.1) Explain the implications of a Gini Coefficient of 0.643 relating to the South Africaneconomy, retail sector and brand of the organisation. Derive practical examples from theLorenz curve to substantiate your explanation.
You are a brand analyst working for a large multinational retail organisation in South Africa. Theorganisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of thehighest inequality rates in the world, with a Gini Coefficient of 0.643.”The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to theimplications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Ginicoefficient was derived: Answer the following: • A good, understandable definition of the Gini Coefficient. Indicate the significance of theSouth African Gini coefficient in relation to Gini coefficient ranges associated with equaland unequal income distributions;
You are a brand analyst working for a large multinational retail organisation in South Africa. Theorganisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of thehighest inequality rates in the world, with a Gini Coefficient of 0.643.”The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to theimplications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Ginicoefficient was derived: Answer the following question: Explain how the Gini coefficient is derived from the Lorenz curve by making use of thegraph provided;
You are a brand analyst working for a large multinational retail organisation in South Africa. The organisation specialises in premium products. You have been provided with the following statement: “According to the World Bank, South Africa remains a dual economy with one of the highest inequality rates in the world, with a Gini Coefficient of 0.643.” The Board of Directors convened a special meeting to discuss the implications of the quote above. You are required to produce a brief on the statement above, specifically referring to the implications it holds for the brand Explain the implications of a Gini Coefficient of 0.643 relating to the South African economy, retail sector and brand of the organisation. Derive practical examples from the Lorenz curve to substantiate your explanation.
You are a brand analyst working for a large multinational retail organisation in South Africa. The organisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of the highest inequality rates in the world, with a Gini Coefficient of 0.643.” The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to the implications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Gini coefficient was derived: Asnwer the following Question: Explain the implications of a Gini Coefficient of 0.643 relating to the South Africaneconomy, retail sector and brand of the organisation. Derive practical examples from theLorenz curve to substantiate your explanation
The Board of Directors convened a special meeting to discuss the implications of the quote above. You are required to produce a brief on the statement above, specifically referring to the implications it holds for the brand. You were able to locate the following graph denoting the Lorenz curve from which the Gini coefficient was derived The Board expects the following points to be addressed in your brief: Explain the implications of a Gini Coefficient of 0.643 relating to the South African economy, retail sector and brand of the organisation. Derive practical examples from the Lorenz curve to substantiate your explanation
The Board of Directors convened a special meeting to discuss the implications of the quote above. You are required to produce a brief on the statement above, specifically referring to the implications it holds for the brand. You were able to locate the following graph denoting the Lorenz curve from which the Gini coefficient was derived The Board expects the following points to be addressed in your brief: Explain how the Gini coefficient is derived from the Lorenz curve by making use of the graph provided; Answer in detail
rdcdn.com/blackboard.learn.xythos.prod/5a25b62cdb9cf/5497575?X-Blackboard-Expiration=1631804400000&X-Bla 2/ 4 100% Directions: Write below whether each factor will increase or decrease demand for the market listed, what determinant of demand caused the increase and decrease and show the demand curve shift on the graph. Determinant and Change Increase or Decrease: Graph Scenario 9. Market: Paper towels this month Scenario: Prices of paper towels are expected to rise in the future. TRIBE: 10. Market: Cheese this month Increase or Decrease: P. Scenario: Prices are expected to fall next TRIBE: month. 11. Market: Pancake market Increase or Decrease: Scenario: Prices of syrup increase. D Q TRIBE: 12. Market: Ketchup market Increase or Decrease: Scenario: Prices of hot dogs decrease TRIBE: D 13. Market: Almond milk Increase or Decrease: P Scenario: Price of dairy milk inereases TRIBE: 14. Market: Almond butter Increase or Decrease: Scenario: Price of peanut butter decreases TRIBE: 15. Market:…
Part B: As a policy analyst for the Congressional Budget Office, you have been asked to estimate the potential costs of occupational licensing to the U.S. economy. Using demand analysis, a basic examination of the national costs of licensing could be developed as follows: Suppose that the entire 10 percent wage premium is from market power (as opposed to greater productivity from enhanced human capital), and further assume that labor supply is perfectly elastic and the labor demand elasticity is 0.5. Hypothetically, assume that the Census data suggests that there are approximately 68 million licensed workers in the U.S. Also assume that the average earning is $50,000. Calculate the potential job loss and the annual cost to consumers as a consequence of occupational licensing. Hint: Recall that the movement up the demand curve is the change in wages times the labor demand elasticity times the number of workers. To calculate the costs, what would a license worker make if they were…
Since the early 1970’s, the U.S. government has had a program called the Earned Income Tax Credit. A simplified version of this program works as follows: The government subsidizes your wages by paying you 50% in addition to what your employer paid you but the subsidy applies only to the first $60 (per day) you receive from your employer. If you earn more than $60 per day, the government gives you only the subsidy for the first $60 earned but nothing for anything additional you earn. For instance, if you earn $100 per day, the government would give you 50% of the first $60 you earned — or $30. Suppose you consider workers 1 and 2. Both can work up to 10 hours per day at a wage of $10 per hour, and after the policy is put in place you observe that worker 1 works 7 hours per day while worker 2 works 5 hours per day. Assume throughout that Leisure is a normal good. (a) Illustrate these workers’ budget constraints with and without the program. (b) Can you tell whether the program has…
[Make sure your answer is structured as a short essay, i.e., with short introduction (3-4 sentences), outlining each reason in a short paragraph, and a brief conclusion (2-3 sentences)]. Suppose you are advising the government of Nigeria on effective poverty reduction strategies for the country. The policy makers strongly believe that rapid economic growth is the most effective channel to reduce poverty. They also argue that the same strategy would also reduce inequality. What would be your advice to the Nigerian government in this context? Would you endorse their proposition? Why or why not? Give at least three reasons in support of your recommendation, making precise use of the concepts related to the relationship between poverty, inequality and economic growth.
Explain the trade-off between equity and efficiency in povertyreduction policy.