The belief that everyone should have exactly the same amount of income is A. Lor
ID: 1200707 • Letter: T
Question
The belief that everyone should have exactly the same amount of income is
A.
Lorenz principle.
B.
egalitarian principle.
C.
comparableminusworth
doctrine.
D.
merit standard.
The official definition of poverty is
A.
exactly the 12 percent of U.S. residents with the lowest incomes.
B.
an absolute measure.
C.
a relative measure.
D.
exactly the 20 percent of U.S. residents with the lowest incomes.
A straight-line Lorenz curve shows
A.
an equal distribution of money income.
B.
a greater than proportionate share of income going to middle-income households.
C.
a highly unequal distribution of income.
D.
a high incidence of absolute poverty.
Which of the following is NOT a correct criticism of the Lorenz curve?
A.
It ignores the impact of age distribution on income distribution.
B.
It refers to money income after taxes.
C.
It does not include payments in kind.
D.
It does not deal with differences in family size.
The typical age-earnings cycle shows that
A.
there is a constant negative relationship between age and earnings.
B.
there is no relationship between age and earnings.
C.
there is a positive relationship between age and earnings that eventually turns into a negative relationship.
D.
there is a constant positive relationship between age and earnings.
The idea that some people engage in risky behavior due to the fact that they have good health care is known as
A.
moral hazard.
B.
risk-taking behavior.
C.
zero-sum game.
D.
risk aversion.
The effects of the national health care program on labor markets will
A.
decrease the quantity supplied of labor.
B.
increase the quantity demanded for labor.
C.
increase the quantity supplied of labor.
D.
decrease the quantity demanded for labor.
The USDA threshold income level was originally based on the cost of
A.
basic clothing.
B.
housing.
C.
a nutritionally adequate food plan.
D.
transportation.
The increase in third-party financing of health care has contributed to the rise in health care costs because
A.
new medical technologies are very expensive.
B.
private health care systems are more expensive than nationalized health care.
C.
people are living longer.
D.
insured patients increase their demand for medical services and thus drive up prices.
The return on human capital
A.
tends to be much greater than the return on physical capital.
B.
cannot be related to the return on physical capital since human capital and physical capital are so different.
C.
is similar to the return on physical capital.
D.
tends to be much lower than the return on physical capital.
The most common type of investment in human capital is
A.
having more children per family.
B.
the migration of labor in search of better jobs.
C.
expanded years of schooling.
D.
improved health care and maintenance.
The purpose of the Earned Income Tax Credit Program (EITC) is to
A.
provide in-kind services such as food stamps and public housing to those individuals who have poor credit.
B.
encourage low-and moderate-income workers to take second jobs to increase their income.
C.
provide rebates of Social Security taxes to low-income workers.
D.
give tax credits to low-income individuals who do volunteer work in their communities.
Which of the following is an individual mandate in the new the federal government's new national health
care program?
A.
Under the new program, the federal government will coordinate the establishment of health insurance exchanges.
B.
Nearly all U.S. residents must either purchase health insurance coverage or pay a fine of up to $750 per year for an individual (up to $2,250 per year for a family).
C.
A tax rate of 3.8 percent will be assessed on nearly all earnings above $200,000 per year for
individuals and above $250,000 per year for married couples.
D.
Firms with at least 50 employees must either provide health insurance or pay fines when uninsured employees receive tax subsidies to purchase insurance.
Income is considered to be a
A.
nontaxable stream of funds.
B.
flow.
C.
resource.
D.
stock.
With respect to wealth in the United States, we presently find that the richest one percent of Americans own approximately how much of the nation's wealth?
A.
35 percent
B.
85 percent
C.
10 percent
D.
70 percent
Merit is judged by one's ability to produce
A.
what is considered beneficial to society.
B.
what is considered valuable by society.
C.
what is considered useful by society.
D.
all of the above
Explanation / Answer
1.B.egalitarian principle.
2.C. a relative measure.
3.A. an equal distribution of money income.
4.B. It refers to money income after taxes.
5.A.there is a constant negative relationship between age and earnings.
Plz ask rest question in another post
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