Exam 20: Income Inequality and Poverty

One existing government program that works much like a negative income tax is Medicaid.

When considering a person's standard of living,data on the income distribution and the poverty rate may provide an incomplete picture because the poor may

The poverty rate is based on a family's

Economists who study economic mobility have found that the income of a grandfather and his grandson's income are

The invisible hand of the marketplace acts to allocate resources

Figure 20-1 Number of Poor -Refer to Figure 20-1.Between 1959 and 2001 the poverty rate has

Eric V.Edmonds,an economist who has studied child labor issues,asserts that

Explain how a "leaky bucket" can be used to illustrate the utilitarian argument that governments should not attempt to completely equalize individual incomes.

Which of the following is most likely to explain why young children in developing countries often work?

The concept of utility is fundamental to utilitarianism and describes the

The income distribution in the United States shows that the income share of the top fifth of all families is

Table 20-4 Poverty Thresholds in 2002,by Size of Family and Number of Related Children Under 18 Years [Dollars] Source: U.S.Bureau of the Census,Current Population Survey. -Refer to Table 20-4.What is the poverty line for a family of eight with two children?

The study by economists Cox and Alm found

Robert Nozick criticizes Rawls' concept of justice by using an example of

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

Which of the following statements is not correct?

In the United States approximately 80 percent of millionaires did not inherit their wealth.This statement is an example of

"The government should choose policies deemed to be just,as evaluated by an impartial observer behind a 'veil of ignorance.'" This statement is most closely associated with which political philosophy?

Figure 20-2 Poverty Rates by Age -Refer to Figure 20-2.In 2001,the percent of elderly aged 65 and over in poverty is

When the government enacts policies to make the distribution of income more equitable,it distorts incentives,alters behavior,and makes the allocation of resources less efficient.