Question 1

A significant part of wealth concentration can be explained by age in the real world.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following claims is accurate regarding misreporting wealth?

Accepted Answer

A)  No value can be assigned in cases where people report they own an asset but do not know its value. 
B)  A statistical correction is possible in cases where interviewers do not know that the family owns an asset. 
C)  On average financial assets are reported with surprising accuracy. 
D)  Financial assets are often under-reported by only about 10 per cent. 
E)  Non-financial assets such as the value of owner-occupied house is, on average, reported with surprising accuracy. 
A)  No value can be assigned in cases where people report they own an asset but do not know its value. 
B)  A statistical correction is possible in cases where interviewers do not know that the family owns an asset. 
C)  On average financial assets are reported with surprising accuracy. 
D)  Financial assets are often under-reported by only about 10 per cent. 
E)  Non-financial assets such as the value of owner-occupied house is, on average, reported with surprising accuracy.

Question 3

_______ totals roughly 30-40% of conventional net worth.

Accepted Answer

A)  Guaranteed Income Supplement (GIS) 
B)  Old Age Security (OAS) 
C)  The Canada Pension Plan (CPP) 
D)  Québec Pension Plan (QPP) 
E)  Social Security Wealth (SSW) 
A)  Guaranteed Income Supplement (GIS) 
B)  Old Age Security (OAS) 
C)  The Canada Pension Plan (CPP) 
D)  Québec Pension Plan (QPP) 
E)  Social Security Wealth (SSW)

Question 4

What are the two main sources of wealth?

Accepted Answer

A)  Earnings & Inheritances (including gifts) 
B)  Earnings & Inheritances (excluding gifts) 
C)  Earnings & Savings 
D)  Inheritances & Stocks 
E)  Earnings & Real Estate 
A)  Earnings & Inheritances (including gifts) 
B)  Earnings & Inheritances (excluding gifts) 
C)  Earnings & Savings 
D)  Inheritances & Stocks 
E)  Earnings & Real Estate

Question 5

American studies indicate that, on average, financial assets are often under-reported by up to 40-50 percent.

Accepted Answer

A) True 
 B)False

Question 6

A reasonable degree of wealth mobility may be necessary, if the mechanisms that determine wealth differences in a society are to be regarded as ______.

Accepted Answer

A)  Acceptable 
B)  Sufficient 
C)  Fair 
D)  Healthy 
E)  Poor 
A)  Acceptable 
B)  Sufficient 
C)  Fair 
D)  Healthy 
E)  Poor

Question 7

What is the most important factor contributing to wealth inequality? What are its aggregate effects and what forms can it take?

Accepted Answer

The most important contributor to inequa

Question 8

There are limitations to relying solely on households' incomes when determining the distribution of economic well-being.

Accepted Answer

A) True 
 B)False

Question 9

Wealth inequality in China has recently increased, and the country has 400 billionaires on Forbes 2019 list.

Accepted Answer

A) True 
 B)False

Question 10

What was the most important factor Davies (1982) found in his decomposition of wealth inequality?

Accepted Answer

A)  Earnings 
B)  Inheritance 
C)  Rates of return 
D)  Age 
E)  Savings rates 
A)  Earnings 
B)  Inheritance 
C)  Rates of return 
D)  Age 
E)  Savings rates

Question 11

What does it mean that the bottom quintile of the world has a -0.4 percent share of global wealth?

Accepted Answer

A)  Their share of global wealth is decreasing. 
B)  On average their debts exceed their assets. 
C)  They lack access to capital to invest in production. 
D)  They have experienced significant losses from the global financial crisis of 2008-9. 
E)  Their share of global wealth is increasing. 
A)  Their share of global wealth is decreasing. 
B)  On average their debts exceed their assets. 
C)  They lack access to capital to invest in production. 
D)  They have experienced significant losses from the global financial crisis of 2008-9. 
E)  Their share of global wealth is increasing.

Question 12

Which of the following does not contribute to the concentration in the inheritance of wealth?

Accepted Answer

A)  Practices of estate division 
B)  Fertility 
C)  Choice of marital partner 
D)  The importance of human wealth 
E)  World wars 
A)  Practices of estate division 
B)  Fertility 
C)  Choice of marital partner 
D)  The importance of human wealth 
E)  World wars

Question 13

The older the consumer, the greater tends to be his or her wealth.

Accepted Answer

A) True 
 B)False

Question 14

In his micro-simulation model, Davies (1982) finds that differences in inheritance are roughly similar to differences in age and earnings in impact on wealth inequality.

Accepted Answer

A) True 
 B)False

Question 15

What type of problem emerges when individuals refuse to participate in wealth surveys?

Accepted Answer

A)  Sampling error 
B)  Non-sampling error 
C)  Confirmation bias 
D)  Type 1 error 
E)  Type 2 error 
A)  Sampling error 
B)  Non-sampling error 
C)  Confirmation bias 
D)  Type 1 error 
E)  Type 2 error

Question 16

There is significant wealth mobility both within lifetimes and across generations.

Accepted Answer

A) True 
 B)False

Question 17

Why can estimating the shape of the distribution of a variable like wealth involve significant sampling error?

Accepted Answer

A)  Most samples will select too few rich households. 
B)  Oversampling in the upper tail is unreliable. 
C)  Most samples will select too few poor households. 
D)  Oversampling in the bottom tail is unreliable 
E)  Sampling is generally not effective for highly skewed variables. 
A)  Most samples will select too few rich households. 
B)  Oversampling in the upper tail is unreliable. 
C)  Most samples will select too few poor households. 
D)  Oversampling in the bottom tail is unreliable 
E)  Sampling is generally not effective for highly skewed variables.

Question 18

How does fertility impact wealth?

Accepted Answer

A)  Fertility does not impact wealth 
B)  Smaller families allow wealth to remain confined to a small minority 
C)  Wealth can be broken slowly by division among heirs 
D)  Wealth concentration would likely be preserved 
E)  Both C & D 
A)  Fertility does not impact wealth 
B)  Smaller families allow wealth to remain confined to a small minority 
C)  Wealth can be broken slowly by division among heirs 
D)  Wealth concentration would likely be preserved 
E)  Both C & D

Question 19

Statistics Canada found that the total value of assets in real estate at the end of 2019 was _____________.

Accepted Answer

A)  53.3% 
B)  17.7% 
C)  23.2% 
D)  40.9% 
E)  5.1% 
A)  53.3% 
B)  17.7% 
C)  23.2% 
D)  40.9% 
E)  5.1%

Question 20

Sampling error is the difference between the ______ and its true ______.

Accepted Answer

A)  Sample value of a statistic, population value 
B)  Population value, sample value of a statistic 
C)  Average wealth, population value 
D)  Sample value of a statistic, average wealth 
E)  Population value, average wealth 
A)  Sample value of a statistic, population value 
B)  Population value, sample value of a statistic 
C)  Average wealth, population value 
D)  Sample value of a statistic, average wealth 
E)  Population value, average wealth

Exam 5: The Distribution of Wealth and Economic Inequality: Canada and the World

A significant part of wealth concentration can be explained by age in the real world.

Which of the following claims is accurate regarding misreporting wealth?

_______ totals roughly 30-40% of conventional net worth.

What are the two main sources of wealth?

American studies indicate that, on average, financial assets are often under-reported by up to 40-50 percent.

A reasonable degree of wealth mobility may be necessary, if the mechanisms that determine wealth differences in a society are to be regarded as ______.

What is the most important factor contributing to wealth inequality? What are its aggregate effects and what forms can it take?

There are limitations to relying solely on households' incomes when determining the distribution of economic well-being.

Wealth inequality in China has recently increased, and the country has 400 billionaires on Forbes 2019 list.

What was the most important factor Davies (1982) found in his decomposition of wealth inequality?

What does it mean that the bottom quintile of the world has a -0.4 percent share of global wealth?

Which of the following does not contribute to the concentration in the inheritance of wealth?

The older the consumer, the greater tends to be his or her wealth.

In his micro-simulation model, Davies (1982) finds that differences in inheritance are roughly similar to differences in age and earnings in impact on wealth inequality.

What type of problem emerges when individuals refuse to participate in wealth surveys?

There is significant wealth mobility both within lifetimes and across generations.

Why can estimating the shape of the distribution of a variable like wealth involve significant sampling error?

How does fertility impact wealth?

Statistics Canada found that the total value of assets in real estate at the end of 2019 was _____________.

Sampling error is the difference between the ______ and its true ______.

Investigating Ownership Concentration, Transnational Connections, and State Involvement in the Canadian Economy

Corporate Power in 21st Century Canada

Breaking Down the Wealth Equation: Housing, Assets, and Debt

Poverty and Income Inequality: Measures and Trends

Inequalities in Work and Employment

Social Class, Post-Secondary Education, and Occupational Outcomes

Location Matters: Education and Employment Inequalities in Northern and Rural Canada

Exploring Definitions of Indigenous Student Success

Immigration Pathways and Next Generation Outcomes: Caribbean and Filipino Children of Caregivers

The Missing and Murdered Indigenous Women and First Nations Issues: a Content Analysis of Major Canadian Media, 2014-2015

Racial Inequality, Social Cohesion, and Policy Issues in Canada

Neoliberalism, Gender, and the Gig Economy in Canada

Changing Gender Time Distributions in Domestic Duties: 1986-2015

Gender Inequality and Family Patterns

Lgbtq2s Employment and Earnings in Canada

Disability and Social Inequality Over the Life Course

Regional Inequality in Canada: an Enduring Issue

Social Inequality and Health

Covid-19 and Prisons: a Perfect Storm of Illness, Isolation, and Inequality

Seasonal Agricultural Worker Program: Unequal by Design

Cumulative Essay Questions

Filters

Sampling error is the difference between the and its true .