Exam 20: Income Inequality and Poverty

The founders of utilitarianism include

Table 20-3 The Distribution of Income in Hapland -Refer to Table 20-3.According to the table,what percent of families in Hapland have income levels above $60,000?

In the U.S.economy,labor earnings make up about

The political philosophy that views the redistribution of income as a form of social insurance is

In 2005 the top 5 percent of income earners accounted for over 50% of all income received by United States' families.

Many economists believe that a family bases its spending decisions on its permanent,or average,income rather than on transitory income.

The maximin criterion is attributed to which political philosophy?

The poverty line is set by the government so that 10 percent of all families fall below that line and are thereby classified as "poor."

Economists who support minimum-wage legislation are likely to believe that the

The rule for redistribution proposed by John Rawls in his book A Theory of Justice is called the

Figure 20-2 Poverty Rates by Age -Refer to Figure 20-2.In 2001,the percent of children under age 18 in poverty is

If income were equally distributed among households,

The poverty rate is an absolute level of income set by the federal government for each family size below which a family is deemed to be in poverty.

Education is the most important factor explaining reductions in child labor in Vietnam.

The United States has less income inequality than

A family's ability to buy goods and services depends largely on its

Over the past 50 years,the U.S.poverty rate was at its lowest level in

Which of the following is not a question that economists try to answer when measuring the distribution of income?

When comparing the percentage of income (or expenditure)of the lowest and highest 20 percent of the population,

Which of the following statements is correct regarding the international phenomenon of child labor?