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Economists believe income inequality results from all the following except a.government t

Economists believe income inequality results from all the following except

a.government taxes and transfer payments

b.labor market discrimination

c.unequal distribution of talents in the population

d.unequal access to education

e.unequal distribution of lifetime accumulated assets

72.              The comparison of after-tax income distribution among countries is difficult for all the
                            following reasons except differences in

a.peoples’ abilities

b.tax systems

c.government assistance programs

d.cultures, for example preferences for leisure

e.peoples’ tolerance of income inequality

73.              If the Gini coefficient increases to one,

a.the area between the Lorenz curves and the two sides of the right angle triangle, that
is, the area below the Lorenz curve, increases

b.poverty levels are likely to decline

c.the area between the Lorenz curve and the diagonal decreases

d.income inequality increases

e.income equality increases

74.              If the median income in Canada is $50,000, it means

a.that the poverty level is $50,000

b.that all Canadians earn $50,000

c.Canadians who earn $50,000 or more are classified as rich

d.50 percent of Canadians who do not earn $50,000 earn less than $50,000 and 50
percent of Canadians who do not earn $50,000 earn more than $50,000

e.that the average income in Canada is $50,000

75.              The problem with using a basic needs measure of poverty is that

a.the median income changes

b.what we think of as basic needs now differs from what basic needs were 20 years
ago

c.we don’t know how to measure basic needs

d.basic needs is a relative concept of poverty

e.population changes

76.              Medicaid and food stamps are

a.available only to the elderly

b.part of Social Security

c.forms of in-kind assistance

d.forms of cash assistance

e.transfer payments to the poor

Answer:E              77.              Which assistance program(s) target(s) the health care needs of the poor?

a. TANF

b.food stamps

c.Social Security

d.Supplemental Income

e. Medicaid

78.              If wealth, income, and standards of living are related in Canada as they are in the United
                            States, then Canadian wealth is

a.more evenly distributed than income

b.falling, if measured as per-capita wealth

c.a good indicator of its poverty threshold

d.less evenly distributed than income

e.the reason why the Gini coefficient in Canada is less than 1

79.              The following statements are accurate except

a.Social Security represents in-kind transfer payments.

b.The percentage of people below the poverty line fell dramatically between 1960 and
1970.

c.The negative income tax was designed to preserve incentives to work.

d.Income inequality in the U.S. is less unequal than the inequality of wealth.

e.The Gini coefficient measures income distribution.

80.              Plato and Aristotle both believed that an uneven distribution of income

a.is desirable since it encourages people to work

b.creates natural class distinctions

c.results in higher rates of economic growth

d.leads to political discontent

e.is acceptable as long as no one ends up in poverty

Dec 11 2019 View more View Less

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