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Exam 20: Income Inequality and Poverty

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Question 1

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An advantage of a negative income tax is that it does not encourage the breakup of families because the only criterion for assistance is family income.

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B) False

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Question 2

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A goal of libertarians is to provide citizens with equal opportunities rather than to ensure equal outcomes.

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$\begin{array} { | l | c | c | c | } \hline { \text { Quintile } } & \begin{array} { c } \text { Shares of Income by } \\\text { Quintile, 2000 }\end{array} & \begin{array} { c } \text { Shares of Income by } \\\text { Quintile, 2003 }\end{array} & \begin{array} { c } \text { Shares of Income by } \\\text { Quintile, 2007 }\end{array} \\\hline \text { Bottom Fifth } & 4.3 \% & 4.1 \% & 3.4 \% \\\hline \text { Second Fifth } & 9.8 \% & 9.6 \% & 8.8 \% \\\hline \text { Middle Fifth } & 15.5 \% & 15.5 \% & 14.7 \% \\\hline \text { Fourth Fifth } & 22.8 \% & 23.2 \% & 22.8 \% \\\hline \text { Top Fifth } & 47.4 \% & 47.6 \% & 50.3 \% \\\hline\end{array}$ -Refer to Table 20-4.In 2007,the bottom 60% of families have

If income were equally distributed among households,

The normal life cycle pattern of income

Whether or not policymakers should try to make our society more egalitarian is largely a matter of

Libertarians believe that in considering economic fairness,one should primarily consider the

A negative income tax system is designed to

The only qualification to receive government assistance under a negative income tax is

$\begin{array} { | l | c | c | c | } \hline { \text { Quintile } } & \begin{array} { c } \text { Shares of Income by } \\\text { Quintile, 2000 }\end{array} & \begin{array} { c } \text { Shares of Income by } \\\text { Quintile, 2003 }\end{array} & \begin{array} { c } \text { Shares of Income by } \\\text { Quintile, 2007 }\end{array} \\\hline \text { Bottom Fifth } & 4.3 \% & 4.1 \% & 3.4 \% \\\hline \text { Second Fifth } & 9.8 \% & 9.6 \% & 8.8 \% \\\hline \text { Middle Fifth } & 15.5 \% & 15.5 \% & 14.7 \% \\\hline \text { Fourth Fifth } & 22.8 \% & 23.2 \% & 22.8 \% \\\hline \text { Top Fifth } & 47.4 \% & 47.6 \% & 50.3 \% \\\hline\end{array}$ -Refer to Table 20-4.In 2007,the top fifth of families have

Liberalism suggests that public policies should aim to

What is meant by a perfectly equal distribution of income? Use a graph to depict such a situation.

The goal of libertarianism is to

Table 20-8 $\begin{array} { | l | c | c | } \hline \text { Quintile } & \begin{array} { l } \text { Shares of Income by } \\\text { Quintile, 2000 }\end{array} & \begin{array} { l } \text { Shares of Income by } \\\text { Quintile, 2008 }\end{array} \\\hline \text { Bottom Fifth } & 4.3 \% & 4.0 \% \\\hline \text { Second Fifth } & 9.8 \% & 9.6 \% \\\hline \text { Middle Fifth } & 15.5 \% & 15.5 \% \\\hline \text { Fourth Fifth } & 22.8 \% & 23.1 \% \\\hline \text { Top Fifth } & 47.4 \% & 47.8 \% \\\hline\end{array}$ -Refer to Table 20-8.In 2008,the bottom 60% of families has

Table 20-5 $\begin{array} { | l | c | } \hline \text { Country } & \text { Gini Coefficient } { } ^ { * } \\\hline \text { Sweden } & 0.240 \\\hline \text { France } & 0.275 \\\hline \text { Italy } & 0.319 \\\hline \text { United Kingdom } & 0.324 \\\hline \text { Portugal } & 0.375 \\\hline \text { Latvia } & 0.387 \\\hline\end{array}$ -Refer to Table 20-5.Which country has the most equal income distribution?

Table 20-8 $\begin{array} { | l | c | c | } \hline \text { Quintile } & \begin{array} { l } \text { Shares of Income by } \\\text { Quintile, 2000 }\end{array} & \begin{array} { l } \text { Shares of Income by } \\\text { Quintile, 2008 }\end{array} \\\hline \text { Bottom Fifth } & 4.3 \% & 4.0 \% \\\hline \text { Second Fifth } & 9.8 \% & 9.6 \% \\\hline \text { Middle Fifth } & 15.5 \% & 15.5 \% \\\hline \text { Fourth Fifth } & 22.8 \% & 23.1 \% \\\hline \text { Top Fifth } & 47.4 \% & 47.8 \% \\\hline\end{array}$ -Refer to Table 20-8.In 2008,the top fifth of families has

Table 20-5 $\begin{array} { | l | c | } \hline \text { Country } & \text { Gini Coefficient } { } ^ { * } \\\hline \text { Sweden } & 0.240 \\\hline \text { France } & 0.275 \\\hline \text { Italy } & 0.319 \\\hline \text { United Kingdom } & 0.324 \\\hline \text { Portugal } & 0.375 \\\hline \text { Latvia } & 0.387 \\\hline\end{array}$ -Refer to Table 20-5.Which country has the most unequal income distribution?

The regular pattern of income variation over a person's life is called

An example of a transitory change in income is the

According to the doctrine of liberalism,principles of justice are the result of