Exam 20: Income Inequality and Poverty

Aniella believes that the demand for unskilled labor is relatively inelastic. Carmella believes that the demand for unskilled labor is relatively elastic. Which believes that a minimum-wage law will result in significant unemployment?

Fewer than three percent of families are poor for eight or more years.

Which of the following is an advantage of an in-kind transfer in comparison to a cash payment?

Supplemental Security Income (SSI) is a type of

The ancient Greek philosopher, Plato, concluded that in an ideal society the income of the richest person

Which of the following is not correct?

In 2011, what percentage of U.S. families had income levels below $75,000?

Ms. Spring currently earns $100,000 a year, while her junior partner, Mr. Fall, earns $55,000 a year. From the perspective of a utilitarian, if both of their incomes are subject to diminishing marginal utility, taking a dollar from Ms. Spring and giving it to Mr. Fall will

The distribution of income for Dismal is as follows: Number of Families Income 1,000 less than $10,000 2,000 between $10,000 and $20,000 2,000 between $20,000 and $30,000 800 between $30,000 and $40,000 200 over $40,000 If the poverty rate in Dismal is 50 percent, what is the poverty line in Dismal?

Which group (or groups) would be the most upset by wide variation in the income distribution?

A commonly-used gauge of poverty is the

With a minimum wage law, the workers who remain employed benefit from a .

The United States has a more equal income distribution than many developing economies such as Mexico, South Africa, and Brazil.

What percentage of millionaires in the United States are self-made?

When we compare the income distribution of the United States to those of other countries, we find that the U.S. has

A disadvantage associated with an Earned Income Tax Credit (EITC) program to reduce poverty is that it

Caroline earns more than John. Under a new tax system, some of the taxes paid by Caroline would go to John. A libertarian would

According to a utilitarian, total social utility will be maximized when marginal dollars are distributed to the people with the

A disadvantage associated with in-kind transfers to reduce poverty is that they

In the United States approximately 80 percent of millionaires did not inherit their wealth. This illustrates the