Exam 2: Analyzing Economic Inequalities

If people's incomes are mostly predicted by the income of their parents the country has a low level of ______.

Valerie grew up middle class. She became one of the best surgeons in the country and ran a successful private practice. Valerie's parents and grandparents were public school teachers and taught her the value of hard work and education. What describes the mobility she experienced compared to her parents' generation?

What was the purpose of the Glass-Steagall Act of 1933?

Compare intergenerational mobility and intragenerational mobility.

Patrick graduated college and worked as a financial analyst for three years. The firm he worked for experienced a crisis due to fraudulent activity and he was laid off. He enjoyed a comfortable upper class lifestyle before he was laid off. After months of being unemployed, his house was under foreclosure and he suffered a devastating illness. Due to his special medical needs he went on government assistance and moved in with his brother's family. Patrick's shifting class position illustrates ______.

When a state adopts "right-to-work" laws, the pay decreases for both union and non-union employees.

Silvia was born in a poor household, but was lucky enough to attend good schools over the course of her life. She applied herself to her studies, eventually obtained a medical degree, and became a wealthy doctor. Silvia's society is stratified based on which criteria?

George was born into the nobility. Susan was a serf living in the land he had lordship over. After a chance meeting, George and Susan were married, and Susan's social position changed. This society is stratified based on which criteria?

Economic inequality only causes negative societal consequences if the poorest members of a society do not make enough money to take care of their basic needs.

The richest 10% of households in the United States own approximately 80% of the country's wealth.

Neoliberal economic policies are more successful in reducing poverty than Johnson's War on Poverty-era policies.

Social reproduction assumes that society is ______ and the Davis-Moore hypothesis assumes that society is a/an ______.

What variable is the strongest predictor of the social class status an individual attains throughout their life?

The richest one percent of people in the world own about ______ of the world's wealth.

Research suggests that economic inequality leads to negative consequences for large numbers of people in society. Discuss social problems that emerge from high levels of economic inequality. Be sure to examine both problems that exist at the institutional level (e.g., the government, the economy, etc.), as well as problems that impact people on an individual level.

How does economic inequality influence culture?

Social movements are rarely successful in raising awareness about economic inequality.

Which is an example of cultural capital?

During which period of time did the United States increase income and wealth equality through economic policy?

Since the 1980s, intergenerational income mobility has started to decrease.