Exam 20: Income Inequality and Poverty

Liberalism is founded on a premise that behind a "veil of ignorance,"

If income were equally distributed among households,

Since the early 1970s, average incomes have

Most economists believe that a family bases its spending decisions on its transitory income.

Since the early 1970s, welfare benefits have declined,

If society chose to maximize total utility rather than minimum utility,

Economists study poverty and income inequality to answer which of the following questions?

Figure 20-3 -Refer to Figure 20-3. In 1968, the percent of adults aged 18 to 64 years in poverty is

In the Temporary Assistance for Needy Families program, most families

The poverty line is an absolute standard and is based on the cost of providing an adequate diet.

Economic mobility in the United States is

In 2011 the top 20% of income earners accounted for over 80% of all income received by United States' families.

An advantage of a negative income tax is that it does not encourage the breakup of families because the only criterion for assistance is family income.

What percentage of millionaires in the United States are self-made?

Which political philosophy argues that the government should choose policies deemed just, as evaluated by an impartial observer?

A negative income tax system would

Table 20-9 Income Inequality in the United States The values in the table reflect the percentages of pre-tax-and transfer income. Source: US Census Bureau -Refer to Table 20-9. In 2010, the top fifth of the US population had

Table 20-8 Source: U.S. Bureau of Census -Refer to Table 20-8. Comparing data from 2000 and 2011, which of the following statements is correct?

The regular pattern of income variation over a person's life is called the .

The maximin criterion for government policies is associated with