Binomial coefficient

China’s income inequality started rising when the country’s adapted central planning where attempt to boost fast growth of heavy industries in urban areas when they launched market-oriented reforms and opened the economy in 1978. However, this Chinese economic growth has helped many people get out of poverty. But there are people still suffering from absolute poverty from long-term unemployed, low-income households, rural-urban migrant workers and farmers living in rural areas today. The…

Inequality is increasingly at the forefront of public debate. After seven years, global economies today continue to struggle for recovery from the 2007-2009 Great Recession. Rising inequality is not a new issue, yet the subject and its distribution has been continuously marginalized in the field of mainstream economics. Perhaps it is due to inconsistent views of what economic inequality is, its level of economic consequences, and when inequality becomes unjustified. As a famous economic…

When perusing the CIA’s world fact-book distribution of family income gini index, 2 countries stood out; Australia and Denmark. These 3 counties are all developed, so theoretically inequalities are more systemic than due to the process of development, and all three have global interests, so gross domestic product, or GDP, can be meaningfully compared to measure output. While some markers are hard to directly compare, each countries ladder of opportunities, social welfare programs and taxations…

Introduction Crime is an activity that degenerates the economic level of the country and, therefore, crime reduction is high on the public agenda. According to a recent research, the United States itself loses between $300 billion and over $1 trillion each year due to criminal activities (Anderson , 2006). Despite the measures that have been put in place to combat the vice, not much have been achieved, and the level of crime is still soaring higher. It is, therefore, important to first…

taxation and government benefits attempts to push the curve inward. Lorenz curve measures income equality distribution. The Gini coefficient measures the area between the 45-degree line and the Lorenz Curve divided by the entire area between the 45-degree line, where 0 equals absolute even distribution of income/equality. With that said: 1. Table 4.2 shows that Gini coefficient has increased from .349 in 1970 to .469 in 2005, indicating that income inequality in the has been a. increasing in…

Is the popular saying “the rich get richer and the poor get poorer” really true? In the America, also known as the land of opportunity, there are infinite ways for a person to become successful. Here, you can come into this world into poverty and leave with riches and vise versa. In America, people of any status have the same opportunities to make it big and live a life that has been always been dreamt of. This is what we are forced to believe and convince ourselves in order to keep society in…

Economic growth is the change of national income usually measured by real GDP(gross domestic product). Economic growth rates have fluctuated over the years and closely been related to economic construction and expansion regarding employment, inflation. Especially, sustainable, high economic growth is one of main objective pursued by most of governments. There is global hot issue associated with economic growth. Recently, China recorded 6.8% of GDP which is lowest figure since 2009 and has…

The concept of genocide when discussed on the global landscape is highly scrutinized because it depicts heinous crimes on humankind and it typically reflects a country’s inability to grow their GDP, lower the poverty line or decrease the Gini coefficient. The notion that Bangladesh has been able to overcome adversity and increase their overall GDP and citizen well-being is astounding in the short…

Hey Mom, I know you’re dying to know how my semester is going so I thought I’d share with you some of the assignments I’ve been working on. I just finished my first chemistry lab project involving drugs! Yes, drugs, but not the ones you’re thinking about. We worked with Sulfanilamide, Phenacetin, Acetaminophen, and your favorite, Caffeine. The goal for the experiment was to determine where the drugs may reside according to their properties. We learned that there are parts in the cell that are…

1.3 billion, 1.2 billion, 186 million. The respective populations of China, Qin Zhang’s country, India, Abdul Hussein’s country and Nigeria, my country. China has a Gross Domestic Product (GDP) output of $19.7 trillion and India has a GDP output of $7.9 trillion . These numbers indicate that these two countries have the strongest economies in Asia while Nigeria with a GDP output of $1 trillion holds the title of the strongest economy from the African continent. This zoomed out view allows us…