Income Inequality

Question 1

For this assignment you are to write a 1 to 2-page paper that addresses supply and demand for the iPhone 6 plus.

Note: The Apple iPhone 6 plus cellular phone will be researched for each course project assignment leading up to your final submission.

Guidelines for this assignment are listed below:

• Research the number of Apple iPhone 6 plus cellular phones that were released in the United States.
• Identify the cost of the Apple iPhone 6 plus.
• Discuss whether or not demand and supply are in equilibrium or is demand greater than supply.
• Identify two factors that would cause the demand curve to shift to the left.
• Discuss two factors that would cause the demand curve to shift to the right.
• Identify two factors that would cause the supply curve to shift to the left.
• Discuss two factors that would cause the supply curve to shift to the right.
• State whether or not a price floor or price ceiling in the iPhone 6 plus would benefit consumers and why.
• Discuss if the Apple iPhone 6 plus account is a market failure.

Assignment must align with the following guidelines:

• Title page
• 1 to 2-pages of content
• At least two sources
• Reference page
• APA formatted

Question 2

Why has Income Inequality been rising since the 1970?

You are being asked to discuss the consistency of the propositions with respect to Autor’s article. Briefly, Proposition 1 implies the reason why people are poor is because they are lazy. Proposition 2 implies that the reason people are poor is policy and institutional arrangement.