This topic contains a solution. Click here to go to the answer

Author Question: What is general equilibrium? What will be an ideal response?[br][br][b][color=#566D7E]Question ... (Read 25 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
What is general equilibrium?
 
  What will be an ideal response?

Question 2

China's prosperity brings income gap The Asian Development Bank ADB reports that China has the largest gap between the rich and the poor in Asia.
 
  Ifzal Ali, the ADB's chief economist, claims it is not that the rich are getting richer and the poor are getting poorer, but that the rich are getting richer faster than the poor. Source: Financial Times, August 9, 2007 Explain how the distribution of personal income in China can be getting more unequal even though the poorest 20 percent are getting richer.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

hramirez205

  • Sr. Member
  • ****
  • Posts: 345
Answer to Question 1

General equilibrium is the condition that exists when all markets in an economy are in simultaneous equilibrium.

Answer to Question 2

The distribution of income in China can be getting more unequal even when the poorest 20 percent are getting richer because the richest 20 percent are getting richer even faster. Because the rich are getting richer fast-er, the fraction of the nation's total income received by the poorest 20 percent falls, which makes the personal distribution of income more un-equal.




imanialler

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

For a complete list of videos, visit our video library