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CopyrightHarcourt,Inc.
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226yChapter20/IncomeInequalityandPoverty
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WhentheincomedistributionoftheU.S.iscomparedtothatofothercountries,itshowsthatthe U.S.hasa a. distributionthatisoneofthemostequalincomedistributions. b. distributionthatisoneofthemostunequalincomedistributions. c. distributionthatissomewhereinthemiddleofthepack. d. higherpercentageofpoorfamilies,andahigherpercentageofrichfamiliesthanmostcountries. ANSWER:c. distributionthatissomewhereinthemiddleofthepack. TYPE:MKEY1:DSECTION:1OBJECTIVE:1RANDOM:Y NOTE:THEFOLLOWINGQUESTIONISREPEATEDFROMTHEONLINEQUIZZES.YOUR STUDENTSMAYHAVEALREADYTHISQUESTIONANDITSANSWER.
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CopyrightHarcourt,Inc.
Chapter20/IncomeInequalityandPovertyy227
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ThenewformulabeingconsideredbytheU.S.CensusBureautocomputetheincomethresholdfor thepovertylinewould a. notchangethepovertyline,buttheformulawouldbeeasiertocompute. b. decreasethepovertylineanddecreasethenumberoffamiliesbelowthepovertyline. c. increasethepovertylineandincreasethenumberoffamiliesbelowthepovertyline. d. increasethepovertyline,butthenumberoffamiliesconsideredpoorwouldnotchangesince thecostoflivingiscontinuouslyrising. ANSWER:c. increasethepovertylineandincreasethenumberoffamiliesbelowthepovertyline. TYPE:MKEY1:CSECTION:1OBJECTIVE:1RANDOM:Y
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CopyrightHarcourt,Inc.
228yChapter20/IncomeInequalityandPoverty
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Studieshaveshownthatifafatherearns20percentabovehisgenerationsaverageincome,hisson willmostlikelyearn a. relativelythesameincomeashisfather. b. lessthanhisfathersincethesonhaslessincentivetoworkwithawealthyfather. c. 22percentbelowhisgenerationsaverageincome. d. 8percentabovehisgenerationsaverageincome. ANSWER:d. 8percentabovehisgenerationsaverageincome. TYPE:MKEY1:DSECTION:1OBJECTIVE:1RANDOM:Y NOTE:THEFOLLOWINGQUESTIONISREPEATEDFROMTHEONLINEQUIZZES.YOUR STUDENTSMAYHAVEALREADYTHISQUESTIONANDITSANSWER.
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Evidenceindicatesthat a. mostofthepoorarepoorforshortperiodsoftime. b. educationisunrelatedtopoverty. c. mostofthepoorareelderly. d. workingdoesnotreduceoneschanceofbeingpoor. ANSWER:a. mostofthepoorarepoorforshortperiodsoftime. TYPE:MKEY1:CSECTION:1OBJECTIVE:1RANDOM:Y NOTE:THEFOLLOWINGQUESTIONISREPEATEDFROMTHEONLINEQUIZZES.YOUR STUDENTSMAYHAVEALREADYTHISQUESTIONANDITSANSWER.
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CopyrightHarcourt,Inc.
Chapter20/IncomeInequalityandPovertyy229
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Becauseofdistortedincentives,whenthegovernmenttriestomaximizetotalutilityintheeconomy byredistributingincome,thepolicywill a. alwaysachieveafullegalitariansocietyinamarketeconomy. b. alwaysfallshortofafullegalitariansociety. c. canonlybeachievedwithaprogressiveincometaxsystem. d. achieveafullegalitariansocietyonlyifsufficientfundsaretransferredfromtherichtothe poor. ANSWER:b. alwaysfallshortofafullegalitariansociety. TYPE:MKEY1:CSECTION:2OBJECTIVE:4RANDOM:Y
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CopyrightHarcourt,Inc.
230yChapter20/IncomeInequalityandPoverty
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Assumethatthegovernmentproposesanegativeincometaxthatcalculatestaxesowedbythe formula,TAXESOWED=(1/2 INCOME)15,000.Forafamilyearning$20,000ofincome,how wouldthisnegativeincometaxaffectthem? a. Theywillreceiveanincomesubsidyof$10,000. b. Theywillreceiveanincomesubsidyof$5,000. c. Theywillpayataxof$5,000. d. Theywillnotberequiredtopayanytax. ANSWER:b. Theywillreceiveanincomesubsidyof$5,000. TYPE:MKEY1:ESECTION:3OBJECTIVE:4INSTRUCTION:2RANDOM:N
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CopyrightHarcourt,Inc.
ANSWER:b.laborearnings. TYPE:MKEY1:DSECTION:1OBJECTIVE:1RANDOM:Y
ANSWER:a.4percentofallincome. TYPE:MKEY1:DSECTION:1OBJECTIVE:1RANDOM:Y
ANSWER:b.pricechanges. TYPE:MKEY1:DSECTION:1OBJECTIVE:1RANDOM:Y
ANSWER:b.aregoodsandservicesgiventothepoorratherthancash. TYPE:MKEY1:DSECTION:1OBJECTIVE:4RANDOM:Y
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ANSWER:b.middleaged. TYPE:MKEY1:DSECTION:1OBJECTIVE:1RANDOM:Y
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ANSWER:a.lifetimeincomeratherthanannualincome. TYPE:MKEY1:CSECTION:1OBJECTIVE:1RANDOM:Y
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ANSWER:a.mostofthepoorarepoorforshortperiodsoftime. TYPE:MKEY1:CSECTION:1OBJECTIVE:1RANDOM:Y
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ANSWER:b.alwaysfallshortofafullegalitariansociety. TYPE:MKEY1:CSECTION:2OBJECTIVE:4RANDOM:Y
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ANSWER:b.maximizethewellbeingoftheworstoffpersoninsociety. TYPE:MKEY1:CSECTION:2OBJECTIVE:3RANDOM:Y
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ANSWER:b.equalopportunity,butnotanequaldistributionofincome. TYPE:MKEY1:CSECTION:2OBJECTIVE:3RANDOM:Y
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ANSWER:a.childrenwillbecomeinnocentvictimsofthislaw. TYPE:MKEY1:CSECTION:3OBJECTIVE:4RANDOM:Y
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ANSWER:b.Theywillreceiveanincomesubsidyof$5,000. TYPE:MKEY1:ESECTION:3OBJECTIVE:4INSTRUCTION:2RANDOM:N
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