Exam 19: Economic Inequality

Among the United States, Finland, and South Africa, income is distributed most equally in ________ and least equally in ________.

Income is distributed very unequally in ________ and very equally in ________.

A Lorenz curve graphs the

If the area between the line of equality and the Lorenz curve is 1,250, and the entire area beneath the line of equality is 5,000, the Gini ratio is

The income distribution in the United States is

The actual income distribution might be more equal than current official figures suggest because current official figures ignore the return on human capital.

In the United States, globalization has caused the demand for unskilled labor to ________ and the demand for skilled labor to ________.

-In the figure above, in the market for low-skilled labor, the equilibrium wage rate is

Is the poverty rate the lowest among Hispanic households, black households, or white households?

Of age, marital status, family size, education, and race, which is the single biggest factor affecting the household income distribution?

-The "big tradeoff" refers to the tradeoff between

"If the distribution of income was equal, the Lorenz curve would be a straight, 45° line." Is the previous statement or in?

The distribution of income in the United States is characterized by the following relationship between the mean, median, and mode incomes

The distribution of wealth is skewed in part because people with high wealth

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 ________.

-In the figure above, the richest 20 percent of households receive ________ of total income.

The inefficiency created by income taxation occurs due to

A proportional income tax is a tax for which the total amount paid does not increase with income.

A progressive income tax is defined as a tax for which

-What type of income tax is reflected in the table above?