following figures refer to elements in its national income accounts. | |£ billions | |Consumption (total) |60 | |Investment |5 | |Government expenditure |8 | |Imports |10 | |Exports |7 | (a) What is the current equilibrium level of national income? (b) What is the level of injections
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Wealth gap‚ which is also known as wealth inequality‚ according to Wealth Inequality | Inequality.org (2015)‚ refers to the unequal distribution of money and assets to residents of the United States. In other words‚ according to America’s wealth gap between middle-income and upper-income families is widest on record (2014‚ December 17)‚ the top 1 % of our nation’s population earns 80% of the United States income. Which means the remainder of that belongs to the middle and lower class. My take on
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Social Class and Inequality Social inequality has been defined as a conflicting status within a society with regards to the individual‚ property rights‚ and access to education‚ medical care‚ and welfare programs. Much of society’s inequality can be attributed to the class status of a particular group‚ which has usually been largely determined by the group’s ethnicity or race (Macionis & Gerber‚ 2006). The conflict perspective is an attempt to understand the group conflict that
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and Income Effects Abstract This paper examines the effects of gasoline price increase over the period of a summer. It looks at the income effect and substitution effect of different scenarios to determine how the author should best make up the difference in cost based on the same income. Seven scenarios are examined; driving less‚ eating out less‚ less spent on maintenance‚ public transportation‚ bicycle‚ no vacation and fewer extra expenses. Using graphs to demonstrate the income effect
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Financial Situation Summarize Take Home Income His annually income includes $65000 from self-employed business and $20000 from part-time job totally worth $85000. After contributing to superannuation‚ the taxable income is $80000; there is no Medicare levy since they have private health insurance. So the total tax is $17550‚ his take home income is $62450. Her take home pay is $601*52 equals $31252 per year‚ which is after tax amount. So their total take home income is $93702 per year ($7808.5 monthly)
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the United States has struggled with many issues. America has dealt with the issue of inequality for over a century. The United States has always been said to be a free country‚ however‚ many instances in our history exploit racial and gender inequality. Many people have faced inequality in America due to racism and different laws and policies that negatively affect certain populations. The issue of inequality in America really came to light during the time of slavery. Early European settlers in
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"Inequality for All" is very informative and persuasive documentary movie‚ produced by Robert Kornbluth and featuring Robert Reich‚ a professor of Public Policy at the University of California at Berkeley who was also a political appointee who served as the Secretary of Labor in the Clinton administration. The movie explains how extreme inequality in income and wealth is a major problem for our society‚ regardless of which political side you find yourself on. Using video outtakes from the lecture
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Departmental Income Statement A Departmental Income Statement shows each departments contribution margin and net income from operating‚ after all expenses are allocated for. The Departmental Income Statement shows which departments of the company are the most profitable‚ and which departments are costing the company money. The Departmental Income Statement helps managers and owners evaluate and control the operations of each department. This is important for running a top quality company. The
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Health inequalities are the differences in health status or avoidable inequalities in health between certain groups of people. The social determinants of health are collective circumstances in which people are born‚ grow up‚ live and work. These include housing‚ education‚ financial ease‚ and the built surrounding including the health system put in place to deal with their illness. These social determinants are mostly responsible for health inequalities. Some health inequalities are as result of
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Krugman suggests that we take the United States economy for granted‚ he thinks that extreme inequality is an “inevitable byproduct of robust economic growth in a globalized age are not inevitable at all”. Political choices not economic laws‚ have helped form the United States to become a world superpower and a nation of the very rich‚ the very poor and an increasingly fragile middle class. His approach to how society should handle these social and economic probelms is for the people to take back
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