Exam 19: Economic Inequality

Customer discrimination against female realtors ________ the number of female realtors and ________ their perceived value of marginal product.

The farther the Lorenz curve for income is from the line of equality, the more ________ is distributed.

-In the figure above, the lowest 20 percent of all households own ________ percent of all wealth, the next lowest 20 percent own ________ percent of all wealth and the richest 20 percent own ________ percent of all wealth.

Relative to the supply curve of high-skilled workers, the supply curve of low-skilled workers is

-The table above gives cumulative percent of income received by each 20 percent group of households. Label the axes in the figure above and then plot the Lorenz curves. In which nation is income more equally distributed?

In the United States the poorest 20 percent of households receive about ________ of total income.

Globalization has ________ the price of many goods, which has caused the value marginal product of unskilled labor to ________ and the demand for unskilled labor to ________.

With respect to market and nonmarket production, on average working women are ________ diversified than men and receive ________ pay as a result.

The mode household income is

Of the approximate total population of 300 million people in America, about how many have incomes below the official poverty level?

Wealth differs from income in that

The distribution of income in the United States became more unequal in the 1990s. One explanation for this trend is that advances in information technologies have ________ low-skilled labor and ________ high-skilled labor.

Explain how redistributing income creates a deadweight loss.

-In the figure above, income is most unequally distributed