Inequality Ch. 20

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Inequality Ch. 20

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Which one of these four countries has the most unequal income distribution?

1 point

Sri Lanka

Guatemala

Brazil

Hong Kong

Clear selection

Which of the following is most true about the following data?

1 point

Brazil has the highest incidence of absolute poverty

Japan has the highest progressive taxes.

Brazil have the lowest Gini coefficient

Japan has the lowest incidence of relative poverty

Clear selection

From this diagram it can be deduced that

1 point

falling tax rates will always reduce tax revenue.

falling tax rates will always increase tax revenue.

rising tax rates will first increase tax revenue to a maximum and then reduce it.

rising tax rates will always increase tax revenue.

Clear selection

Select the best option

1 point

I only

II and III

I, II and III

I and II

Clear selection

Which of the following policies would be most effective in reducing income inequalities?

1 point

II and III only

I, II and III

I only

I and II only

Clear selection

All of the following should be true of merit goods, such as health care and education in the short run except.

1 point

they can serve to reduce the inequality in the distribution of income.

they can serve to improve the living standards of the poorest sectors on an economy.

they can be funded through a progressive income tax system.

they can serve to reduce the level of inequality in the distribution of wealth.

Clear selection

Which of the statements is most true about Country X?

1 point

Country X has the lowest Gini coefficient

Country X has the lowest absolute poverty

Country X is the most developed economy

Country X has the highest progressive income taxes

Clear selection

All of the following are typical causes of circular cumulative causation known as the poverty cycle associated with inequality in the distribution of wealth and income except?

1 point

Low income leads to poor nutrition which leads to lower earning potential.

Low income leads to lower taxes which leads to increased productivity and higher earning potential

Low income leads to low education which leads to lower incomes

Low income leads to low health care which leads to low productivity

Clear selection

All of the following data on inequality or wealth and income are mostly true except

1 point

Inequality inside most countries is decreasing.

Inequality within most countries is increasing

Inequality of individuals is growing on a global level

Inequality between countries is decreasing

Clear selection

The consumption function below suggests that a policy to redistribute income from the wealthiest quintiles to the poorest incomes would accomplish which of the following in the short run?

1 point

increase the Gini coefficient

increase overall economic activity

decrease overall economic activity

Reduce absolute poverty

Clear selection

All of the following are strong argument in favor of some inequality existing in an economy except.

1 point

It works to motivate workers of lower quintile groups to improve their skills

It is an accurate reflection of people economic value

Undesirable jobs will be filled.

It motivates entrepreneurs to take risks

Clear selection

Which of the following is an accurate equation for the Gini coefficient for country Y?

1 point

I + II + III / I + II + III + IV

I + II + III + IV / I + II + III + IV

I + II / I + II + III + IV

I / I + II + III + IV

Clear selection

All of the following are considered to be market based solutions to income inequality expect

1 point

Minority hiring quotas

Welfare Transfer payments

Minimum wage laws

Equal pay legislation

Clear selection

All of the following are usually true of indirect taxes like sales taxes except

1 point

The are regressive in nature

They are progressive in nature

They are used to fund merit goods like education and health care.

They are higher for demerit goods like alcohol and cigarettes

Clear selection

A Lorenz curve data can confirm which of the following?

1 point

Level of absolute poverty in a country

Level of development in a country

Level of relative poverty in a country

Level of wealth distribution in a country

Clear selection

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