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Business, 12.01.2021 17:30 pookie879

Consider the town of Econville with a population of 5,000. There are 1,000 high school students, 1,000 undergraduate 1,000 graduate students, 1,000 economics professors, and 1,000 retired economists. Suppose that the total annual income in the economy is S 100 million: Each high school student earns $7,000 annually; each undergraduate earns $12,000 annually; each graduate student earns $20,000 annually; each professor earns $56,000 annually; and each retiree earns $5,000 annually. Suppose that the government sets the poverty line at an annual income of $16,000. The percentage of people with annual incomes below the poverty line in Econville is:

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Consider the town of Econville with a population of 5,000. There are 1,000 high school students, 1,0...

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