This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is meant by the term assortative mating and how does it affect the distribution of wealth? ... (Read 40 times)

crazycityslicker

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
What is meant by the term assortative mating and how does it affect the distribution of wealth?
 
  What will be an ideal response?

Question 2

What is the relationship between the income effect and the substitution effect for a normal good and what is it for an inferior good?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anoriega3

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

Assortative mating is the tendency for people to marry within their own socioeconomic class. Wealthy people tend to marry other wealthy people; wealth remains concentrated and this fact contributes to the skewed distribution of wealth.

Answer to Question 2

For a normal good, the income effect reinforces the substitution effect. In other words, if the price falls so that a consumer's real income increases, both the substitution effect and the income effect lead the consumer to increase his or consumption of the good. For an inferior good, the income effect reduces the substitution effect. In this case, when the price of a good falls, the substitution effect leads to an increase in the consumption of the good and the income effect leads to a decrease in the consumption of the good.


crazycityslicker

  • Member
  • Posts: 537
Reply 2 on: Jun 29, 2018
Gracias!

ttt030911

  • Member
  • Posts: 315
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

A full-term pregnancy. Image illustrates position of the fetus and the structures associated with pr A full-term pregnancy. Image illustrates position of the fetus and the structures associated with pr
The Distribution of Dominant and Minority Groups The Distribution of Dominant and Minority Groups
Distribution and Forms of Precipitation: Graupel and Hail Distribution and Forms of Precipitation: Graupel and Hail
Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ... Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ...
Discrete random variables- Probability Distribution Function Discrete random variables- Probability Distribution Function
Gravitational Force Due to a Distribution of Mass problem 2 Gravitational Force Due to a Distribution of Mass problem 2
Video: Stroke volume

For a complete list of videos, visit our video library