QUESTION 12 The process of political socialization in the United States is normally cumulative; political beliefs attained earlier in life tend to be retained to a substantial degree. highly effective; Americans are the best- informed citizens in the world. usually uniform; there are almost no differences in the opinions of various groups, such as northerners and southerners. highly structured; children are subjected to an intense system of government-mandated political indoctrination. extremely narrow; most Americans get nearly all their opinions from a single source.

Choice of a neighbourhood is a function of economic parameters likeincome, wealth, and occupation. Social factors such as religion, caste,other group identity etc. also influence the decision of where to live.Demographic factors such as constituents of the family and number ofdependent members are also important. Family with more number of kidsis likely to prefer housing in an area with educational institutions.Similarly, family with more number of elderly will prefer a place wheremedical assistance can be quickly reached. Choice of neighbourhoodbecomes extremely important, as it affects the quality of life in a largeway. There are external effects of neighbour’s behaviour on one’s lifestyle. If the neighbours are very social and of high moral values, there areno clashes and disturbances. However, if one is not lucky enough to havea good and understanding neighbour, things can come to a level, wherethere can be fights and legal suites. One such example happened in mysociety recently.…

The table below presents the system in the country of Boonton. The numbers indicate the percentage of income in that bracket that is taxed. For example, someone making $13,000 would be taxed 23% of that amount.   Income Earned                                  Tax % applied to that Income Under $15,000                                                  23 $15,001 - $30,000                                             24 $30,001 - $45,000                                               25 $45,001 - $60,000                                              27   If a household in Boonton currently makes $20000, how much do they owe in taxes?

A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table.   Income Quintile Share of Income $15,000 Bottom   $20,000 $30,000 2nd   $30,000 $35,000 3rd   $40,000 $45,000 4th   $50,000 $55,000 Top   $80,000 $4000 is taxed from the top earner and transferred to the lowest earner Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to overall utility in the economy? Would it increase, decrease, or remain the same? Explain your answer. (Hint: does the marginal utility of income diminish as one earns more?)