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.Management Sciences
Category: Income Inequality
The idea that the demand for car workers stems from the demand for cars is ?
A. output demand
B. indirect demand
C. derived demand
D. the value of the marginal product of auto workers.
The total amount of tax you pay divided by your total income is the ?
A. average tax rate
B. marginal tax rate
C. proportional tax rate
D. total tax rate
Assuming that leisure is a normal good. if an individual’s labour supply curve is backward bending then the ?
A. income effect is zero
B. substitution effect outweighs the income effect
C. income effect outweighs the substitution effect
D. income effect and the substitution effects are equal
The substitution effect of higher wages suggests that as the wage rate increases ?
A. leisure becomes less expensive and households buy more of it
B. leisure becomes more expensive and households buy more of it
C. leisure becomes more expensive and households buy less of it
D. leisure becomes less expensive and households buy less of it.
Mariam earns more than Seamus and she came by her income fairly and honestly which of the following political philosophies would argue against the redistribution of income from Mariam to Seamus ?
A. all of these answers
B. libertarianism
C. utilitarianism
D. none of these answers
A Gini coefficient of zero means that the ?
A. the income is split equally between the top 20% and the rest of the distribution
B. one person has all the income and every one else has nothing
C. all the income is received by the top 20% of the income distribution
D. income is equally distributed
The marginal tax rate is ?
A. the tax rate you pay on any additional income that you earn.
B. the total amount of tax you pay divided by your total income
C. the additional tax you pay divided by your total income
D. your total income divided by the total amount of tax you pay.
Current anti-poverty programs discourage work because ?
A. benefits are reduced at such a high rate when recipients earn more income that there is little or no incentive to work once one is receiving benefits.
B. in order to be eligible for benefits a recipient cannot have a job
C. they make recipients more comfortable than most middle-class citizens.
D. anti-poverty programs attract naturally lazy people to begin with.
A progressive income tax means that those with a higher income pay ?
A. a higher percentage of their income in taxes then low income people
B. a lower percentage of their income in taxes than low income people
C. the same percentage of their income in taxes as low income people all the taxes in the economy.
D. all the taxes in the economy
The Gini coefficient is ?
A. the ratio of the percentage of total income received by the top 20% of families to the percentage of total income received by by the bottom 20% of families
B. the most common way of representing the income distribution graphically
C. a commonly used measure of the degree of inequality in an income distribution
D. a commonly used measure of the degree of inequity in an income distribution
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