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

Author Question: Are the concepts of equity and efficiency different? Why or why not? What will be an ideal ... (Read 49 times)

pane00

  • Hero Member
  • *****
  • Posts: 579
Are the concepts of equity and efficiency different? Why or why not?
 
  What will be an ideal response?

Question 2

Which of the following explains the increase in income inequality since 1980?
 
  A) A widening gap between the wages of skilled and extensively-educated workers and the wages of those with fewer skills and less education
  B) A rise in the number of single-parent families at low income levels and a rise in two-parent two-earner families at higher income levels
  C) An increase in the supply of less-skilled workers combined with an increase in demand for more highly-skilled workers
  D) All of the above.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

phuda

  • Sr. Member
  • ****
  • Posts: 348
Answer to Question 1

Yes, the concepts of equity and efficiency are different. Equity focuses on the distributive aspect of resources across society. Hence, equity is more concerned with how the pie is allocated to various economic agents.
An economy is said to be efficient when waste of resources is eliminated and social surplus is maximized. Thus, efficiency relates to making the societal pie as large as possible.

Answer to Question 2

D




pane00

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
Excellent


rleezy04

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

 

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

For a complete list of videos, visit our video library