Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 20, Problem 3PA
Subpart (a):
To determine
The different policies for economic mobility.
Subpart (b):
To determine
The different policies for economic mobility.
Subpart (c):
To determine
The different policies for economic mobility.
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Some people feel that income distribution (equality) should be achieved. Do you agree or disagree with this concept? How would you feel if someone did more work and made more money but then gave you a portion of the profits? How would you feel if you had to give some of your paycheck to someone that did not work as hard. What if the instruction decided to give all the students a grade of "B" including those that did "A" work as well as those that gave "C" effort?
This chapter discusses the importance of economic mobility.
If the government increases its support of training programs, it could increase economic mobility from year to year
Suppose the United States is considering reducing spending on current welfare programs to increase spending on p
mobility.
What are some of the advantages of doing so? Check all that apply.
People will have greater incentive to work hard.
Programs that enhance economic mobility are cheap.
O Programs that enhance economic mobility are easier on those who do not make it.
across generations
within a generation
economic
What does government now do, and what could and should government do, to reduce economic inequality? Discuss
the impact of government on economic inequality and how it has changed over time. What are your top three
suggestions for specific programs or policies which governments could adopt to change the level and trend of
inequality? Why?
Chapter 20 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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- Although it is hard to separate the causes of poverty from the effects, there is no doubt that poverty is associated with various economic and social ills. Suppose that you were a policymaker in the government and your goal was to reduce the number of people living in poverty. How would you achieve this goal?arrow_forwardHow much age affects inequality? Is there something the government can do about younger and older people's incomes?arrow_forwardNumber 6arrow_forward
- Discuss the growing income inequality in the U.S. and the world with someone mature enough to have some perspective from experience about it. Ask them what they think about the widening gap between the rich and the rest of us in America, as our course materials speak of this problem. How has the economic trend for middle class Americans affected them? How as it affected you? Two examples of the marketization of society today that Sandel discusses are cash for grades and pay for getting around long lines. What, if anything, is wrong with these practices? Beyond what Sandel discusses, think of at least one social, personal, or relational good or value that you think would be negatively affected by marketization. And explain why.arrow_forwardWHAT ARE SOME POLICIES THAT A GOVERNMENT CAN IMPLEMENT TO REDUCE INCOME INEQUALITY? SELECT ALL THAT APPLY A. Increase spending in education. B. Lower tax for the top quintile. C. Stregnthen anti-discrimination laws based on race, gender, sexual orientation, marital status, religion, and disability status. D. Increase access to affordable healthcare to all. E. Encourage corporate stock ownership.arrow_forwardWrite your ideason what should be done to halt the inequality among people experienced in each category. Education health occupationarrow_forward
- Which of the following is NOT one of the reasons for the "welfare state"? Select one: a. Reducing poverty and providing access to healthcare b. Alleviating income inequality c. Alleviating economic insecurity d. Increasing economic equalityarrow_forwardWhy do most modern societies try to reduce poverty? What is the most effective way to reduce poverty in your community in the long term?arrow_forward1.What factors contribute to the differences in median income for various ethnic groups?arrow_forward
- Is work on the part of welfare recipients a reasonable expectation? Does government have any business getting involved in the personal lives of welfare recipients?arrow_forwardHow does education affect income inequality?arrow_forwardShould the government do more to reduce income inequality? If so, what? If not, why not? Would reducing inequality have any benefits for society in general? Specifically, would reducing inequality benefit middle class and upper class households? If so, how? Do you think it likely that attempts to reduce income inequality would reduce people's incentives to work? Why or why not?arrow_forward
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