Economics Chapter 18 After 1980 During The Years Following World

114. Multiple Choice: The period during the 1930s and 1940s...

Question The period during the 1930s and 1940s when income inequality fell sharply is

referred to as the:

115. Multiple Choice: The rising income gap among highly ed...

Question The rising income gap among highly educated workers in the United States:

116. Multiple Choice: Increases in income inequality in the…

Question Increases in income inequality in the United States are partially attributed to:

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117. Multiple Choice: In the United States, if the median h...

Question In the United States, if the median household income in 2010 was $49,445, this

means that:

118. Multiple Choice: The mean household income is:

Question The mean household income is:

119. Multiple Choice: The Gini coefficient:

Question The Gini coefficient:

120. Multiple Choice: For the United States in 2009, a Gini...

Question For the United States in 2009, a Gini coefficient of 0.46 suggests that:

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121. Multiple Choice: Much of the rise in income inequality…

Question Much of the rise in income inequality in the past 20 years United States comes

from:

122. Multiple Choice: A sudden loss of income and a signifi…

Question A sudden loss of income and a significant increase in costly medical expenses are

examples of:

123. Multiple Choice: Means-tested programs:

Question Means-tested programs:

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124. Multiple Choice: Programs that are not means tested:

Question Programs that are not means tested:

125. Multiple Choice: Which program was introduced in 1990 ...

Question Which program was introduced in 1990 and replaced the means–tested program

that was called Aid to Families and Dependent Children (AFDC)?

126. Multiple Choice: Temporary Aid to Needy Families is a ...

Question Temporary Aid to Needy Families is a means-tested program that:

127. Multiple Choice: Unemployment insurance is a(n):

Question Unemployment insurance is a(n):

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128. Multiple Choice: In the United States and other wealth...

Question In the United States and other wealthy countries, a large part of the welfare state is

devoted to payments for:

129. Multiple Choice: In 2009, most health care costs were …

Question In 2009, most health care costs were paid for by:

130. Multiple Choice: The adverse selection death spiral oc…

Question The adverse selection death spiral occurs when private insurance companies:

131. Multiple Choice: Employment-based insurance:

Question Employment-based insurance:

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132. Multiple Choice: Medicare is health insurance coverage…

Question Medicare is health insurance coverage provided to:

133. Multiple Choice: In the United States, if someone does...

Question In the United States, if someone does not have health insurance, it is likely that

this person:

134. Multiple Choice: Health care expenditures in the Unite...

Question Health care expenditures in the United States are ________ than in other countries

such as Canada and France, and the government share of health care in the United

States is ________ than in those countries.

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135. Multiple Choice: The notch problem occurs when a poor ...

Question The notch problem occurs when a poor family that has been receiving aid:

136. Essay: How do poverty programs differ from s...

Question How do poverty programs differ from social insurance programs?

137. Essay: What are some of the causes of povert...

Question What are some of the causes of poverty in America?

138. Essay: Why do economists generally regard me…

Question Why do economists generally regard median income as a better measure of a

typical American’s well-being than mean income?

139. Essay: Reference: Ref 18-1 (Table: Individu...

Question

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Reference: Ref 18-1

(Table: Individual Earnings) The table Individual Earnings shows the income of 10

workers.

a) Compute the mean and median income.

b) Create a new table that arranges the workers into quintiles.

c) Add a column to the table that shows the percentage of total income going to

the workers in each quintile.

140. Essay: Since about 1950, the share of income...

Question Since about 1950, the share of income going to the richest 10% of Americans has

steadily increased. What explains this trend?

Answer

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141. Essay: Critics of traditional welfare progra...

Question Critics of traditional welfare programs often cite a disincentive to work as a flaw in

the policy. Why would these critics be in favor of the Earned Income Tax Credit

(EITC)? And why is the EITC described as a negative income tax?

142. Essay: Explain what is meant by the adverse ...

Question Explain what is meant by the adverse selection problem, which has the potential to

doom a private health insurance company to failure.

143. Essay: What are the fundamental differences ...

Question What are the fundamental differences between the Medicare and Medicaid

programs?

144. Essay: How have advancements in medicine con...

Question How have advancements in medicine contributed to the soaring cost of health care

in America? Isn’t medical progress a good thing?

145. Essay: Jane works part-time and earns $12,00...

Question

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Jane works part-time and earns $12,000 per year. Because she is below the

poverty line, she also earns $4,000 in various welfare benefits. Suppose she is

offered a new job that would pay her $15,000 and would bring her earnings high

enough so that she no longer qualified for any welfare benefits. This is what is

known as a notch. Explain what is happening with Jane and how could we modify

OK