Review Quiz Chapter 15__ ECON-2302-010

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11/22/22, 4:50 PM Review Quiz Chapter 15*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504978 1/6 Review Quiz Chapter 15* Due Nov 27 at 11:56pm Points 10 Questions 10 Available Nov 21 at 12am - Dec 4 at 11:59pm Time Limit 15 Minutes Allowed Attempts 2 Instructions Attempt History Attempt Time Score LATEST Attempt 1 8 minutes 10 out of 10 Answers will be shown after your last attempt Score for this attempt: 10 out of 10 Submitted Nov 22 at 4:50pm This attempt took 8 minutes. This quiz is based on both the textbook and classroom discussion. Take the Quiz Again 1 / 1 pts Question 1 A situation of __________ arises when one group receives a higher share of total income or wealth than others. poverty entrapment poverty quintiles inequality
11/22/22, 4:50 PM Review Quiz Chapter 15*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504978 2/6 1 / 1 pts Question 2 A method often used by economists to look at distribution of income in a society's economy involves imposing taxes to redistribute wealth. quintiles, or dividing a whole group into fifths. programs for wealth redistribution. quads, or dividing a whole group into fourths. 1 / 1 pts Question 3 With respect to market forces and/or labor markets that determine peoples' wages, which of the following is a true statement? market forces consider what happens to families in their business decisions labor markets consider how much a family needs for necessities labor markets consider how much a family needs for health care labor markets create considerable inequalities relating to income 1 / 1 pts Question 4
11/22/22, 4:50 PM Review Quiz Chapter 15*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504978 3/6 In the United States, the official definition of the poverty line traces back to a single person: ___________________, whose idea was to ___________________________. Molly Orshansky; define a range of government policies to reduce poverty Lawrence Ellison; define a range of government policies to reduce poverty Max Lorenz; define the Lorenz curve to illustrate the poverty line Mollie Orshansky; define a poverty line based on the cost of a healthy diet 1 / 1 pts Question 5 If a rise in incomes for both low-income and high-income workers is higher for the high-income workers, then poverty will fall and inequality will fall. then poverty will rise and inequality will rise. then poverty will rise and inequality will fall. then poverty will fall and inequality will rise. 1 / 1 pts Question 6
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11/22/22, 4:50 PM Review Quiz Chapter 15*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504978 4/6 If the income level falls for low-income workers, but remains unchanged for high-income workers, then poverty will fall and inequality will fall. then poverty will rise and inequality will fall. then poverty will fall and inequality will rise. then poverty will rise and inequality will rise. 1 / 1 pts Question 7 If incomes rise for low-income workers but don't change for high-income workers, then poverty will rise and inequality will rise. then poverty will fall and inequality will fall. then poverty will fall and inequality will rise. then poverty will rise and inequality will fall. 1 / 1 pts Question 8 In the U.S., government support programs that are focused specifically on the poor include which of the following? Medicaid credits
11/22/22, 4:50 PM Review Quiz Chapter 15*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504978 5/6 welfare food credits income stamps 1 / 1 pts Question 9 Medicaid is a federal-state joint program enacted in 1965 that provides medical insurance for the near-poor and the low-income elderly. all those below the poverty line. low-income mothers, but not their spouses. the disabled and all of the above. 1 / 1 pts Question 10 The greater inequality of wages can be viewed as a sign that demand for skilled labor is increasing faster than supply. supply for skilled labor is increasing faster than demand. supply for skilled labor is decreasing faster than demand. demand for skilled labor is decreasing faster than supply.
11/22/22, 4:50 PM Review Quiz Chapter 15*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504978 6/6 Quiz Score: 10 out of 10
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