Question 1

A curve showing the quintile distribution of a nation's income is called the Gini curve.

Accepted Answer

A) True 
 B)False

Question 2

In 2014, the percentage of the total U.S. population that lived in poverty was approximately

Accepted Answer

A)  5 percent. 
B)  10 percent. 
C)  15 percent. 
D)  20 percent. 
A)  5 percent. 
B)  10 percent. 
C)  15 percent. 
D)  20 percent.

Question 3

(Consider This) In "Slicing the Pizza," the shrinkage of the pizza refers to the

Accepted Answer

A)  fact that poor people are not helped by the income-maintenance system. 
B)  efficiency losses-the losses of output and income associated with the tax-transfer system. 
C)  tendency of rich people in developing nations to hoard their wealth overseas. 
D)  failure of the Internal Revenue Service to collect all the tax revenues owed by taxpayers. 
A)  fact that poor people are not helped by the income-maintenance system. 
B)  efficiency losses-the losses of output and income associated with the tax-transfer system. 
C)  tendency of rich people in developing nations to hoard their wealth overseas. 
D)  failure of the Internal Revenue Service to collect all the tax revenues owed by taxpayers.

Question 4

In the United States, the lifetime distribution of income is more equal than the annual distribution. This statement is

Accepted Answer

A)  true because the rich have gotten richer and the poor have gotten poorer. 
B)  true because there is considerable income mobility over time. 
C)  false because people tend to stay in the same income quintile over extended periods of time. 
D)  false because the rich have gotten richer and the poor have gotten poorer. 
A)  true because the rich have gotten richer and the poor have gotten poorer. 
B)  true because there is considerable income mobility over time. 
C)  false because people tend to stay in the same income quintile over extended periods of time. 
D)  false because the rich have gotten richer and the poor have gotten poorer.

Question 5

Government programs that pay benefits to those who are unable to earn income because of permanent disabilities or to those who have very low incomes and dependent children are called

Accepted Answer

A)  public assistance programs. 
B)  social insurance programs. 
C)  affirmative action programs. 
D)  dependent programs. 
A)  public assistance programs. 
B)  social insurance programs. 
C)  affirmative action programs. 
D)  dependent programs.

Question 6

The crowding of women, African Americans, and certain ethnic groups into less-desirable, lower-paying occupations is

Accepted Answer

A)  employment discrimination. 
B)  human capital discrimination. 
C)  statistical discrimination. 
D)  occupational segregation. 
A)  employment discrimination. 
B)  human capital discrimination. 
C)  statistical discrimination. 
D)  occupational segregation.

Question 7

The U.S. poverty rate was considerably lower in 2014 than in 1960.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following contributes most to the reduction in income inequality?

Accepted Answer

A)  taxes 
B)  wealth 
C)  transfer payments 
D)  earned-income tax credits 
A)  taxes 
B)  wealth 
C)  transfer payments 
D)  earned-income tax credits

Question 9

Which of the following groups has the highest poverty rate?

Accepted Answer

A)  age 65 or over 
B)  foreign-born (not citizens) 
C)  Hispanics 
D)  female-headed households 
A)  age 65 or over 
B)  foreign-born (not citizens) 
C)  Hispanics 
D)  female-headed households

Question 10

If income inequality is increasing, it means that the income levels of the poor are falling while the income levels of the rich are rising.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following employers is the most prejudiced? Employer

Accepted Answer

A)  A, whose d is $0. 
B)  B, whose d is $2. 
C)  C, whose d is $4. 
D)  D, whose d is $6. 
A)  A, whose d is $0. 
B)  B, whose d is $2. 
C)  C, whose d is $4. 
D)  D, whose d is $6.

Question 12

Assume that there is a supply and demand market for nonpreferred workers. If prejudice against these workers among employers decreases, then there will be a(n)

Accepted Answer

A)  increased supply of these workers, a rise in their wage rate, and a decrease in their employment. 
B)  increased demand for these workers, a rise in their wage rate, and an increase in their employment. 
C)  decreased supply of these workers, a fall in their wage rate, and a decrease in their employment. 
D)  decreased demand for these workers, a fall in their wage rate, and a decrease in their employment. 
A)  increased supply of these workers, a rise in their wage rate, and a decrease in their employment. 
B)  increased demand for these workers, a rise in their wage rate, and an increase in their employment. 
C)  decreased supply of these workers, a fall in their wage rate, and a decrease in their employment. 
D)  decreased demand for these workers, a fall in their wage rate, and a decrease in their employment.

A curve showing the quintile distribution of a nation's income is called the Gini curve.

In 2014, the percentage of the total U.S. population that lived in poverty was approximately

(Consider This) In "Slicing the Pizza," the shrinkage of the pizza refers to the

In the United States, the lifetime distribution of income is more equal than the annual distribution. This statement is

Government programs that pay benefits to those who are unable to earn income because of permanent disabilities or to those who have very low incomes and dependent children are called

The crowding of women, African Americans, and certain ethnic groups into less-desirable, lower-paying occupations is

The U.S. poverty rate was considerably lower in 2014 than in 1960.

Which of the following contributes most to the reduction in income inequality?

Which of the following groups has the highest poverty rate?

If income inequality is increasing, it means that the income levels of the poor are falling while the income levels of the rich are rising.

Which of the following employers is the most prejudiced? Employer

Assume that there is a supply and demand market for nonpreferred workers. If prejudice against these workers among employers decreases, then there will be a(n)

Limits, Alternatives, and Choices

The Market System and the Circular Flow

Demand, Supply, and Market Equilibrium

Market Failures: Public Goods and Externalities

Governments Role and Government Failure

Elasticity

Utility Maximization

Behavioral Economics

Businesses and the Costs of Production

Pure Competition in the Short Run

Pure Competition in the Long Run

Pure Monopoly

Monopolistic Competition

Oligopoly and Strategic Behavior

Technology, Rd, and Efficiency

The Demand for Resources

Wage Determination

Rent, Interest, and Profit

Natural Resource and Energy Economics

Public Finance: Expenditures and Taxes

Antitrust Policy and Regulation

Agriculture: Economics and Policy

Health Care

Immigration

International Trade

The Balance of Payments, Exchange Rates, and Trade Deficits

The Economics of Developing Countries

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Exam 23: Income Inequality, Poverty, and Discrimination

A curve showing the quintile distribution of a nation's income is called the Gini curve.

In 2014, the percentage of the total U.S. population that lived in poverty was approximately

(Consider This) In "Slicing the Pizza," the shrinkage of the pizza refers to the

In the United States, the lifetime distribution of income is more equal than the annual distribution. This statement is

Government programs that pay benefits to those who are unable to earn income because of permanent disabilities or to those who have very low incomes and dependent children are called

The crowding of women, African Americans, and certain ethnic groups into less-desirable, lower-paying occupations is

The U.S. poverty rate was considerably lower in 2014 than in 1960.

Which of the following contributes most to the reduction in income inequality?

Which of the following groups has the highest poverty rate?

If income inequality is increasing, it means that the income levels of the poor are falling while the income levels of the rich are rising.

Which of the following employers is the most prejudiced? Employer

Assume that there is a supply and demand market for nonpreferred workers. If prejudice against these workers among employers decreases, then there will be a(n)

Limits, Alternatives, and Choices

The Market System and the Circular Flow

Demand, Supply, and Market Equilibrium

Market Failures: Public Goods and Externalities

Governments Role and Government Failure

Elasticity

Utility Maximization

Behavioral Economics

Businesses and the Costs of Production

Pure Competition in the Short Run

Pure Competition in the Long Run

Pure Monopoly

Monopolistic Competition

Oligopoly and Strategic Behavior

Technology, Rd, and Efficiency

The Demand for Resources

Wage Determination

Rent, Interest, and Profit

Natural Resource and Energy Economics

Public Finance: Expenditures and Taxes

Antitrust Policy and Regulation

Agriculture: Economics and Policy

Health Care

Immigration

International Trade

The Balance of Payments, Exchange Rates, and Trade Deficits

The Economics of Developing Countries

Filters