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ECON 102 Economics 2 – Microeconomics Quiz 20

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Which of the following provides retirement income to qualified retirees? Select one:

The distribution of U.S. income by quintiles: Select one:

The lowest quintile of households in the income distribution receives about: Select one:

Which of the following would we expect to have the highest poverty rate? Select one:

A major difference between social insurance and welfare is that social insurance:

Some economists have criticized standard government figures on income inequality, arguing that these data:

Government transfer programs result in a U.S. Lorenz Curve that is closer to the diagonal line than would be the case without the programs.

Social Security is financed: Select one:

The Personal Responsibility (welfare reform) Act of 1996: Select one:

The U.S. poverty rate was considerably lower in 2004 than in 1960


Which of the following is a public assistance or welfare program as opposed to a social insurance program?

A curve showing the quintile distribution of a nation's income is called the Phillips Curve. Select one:

People's incomes are relatively low when they are young, reach a peak in middle age, and then decline. This fact helps explain:

The U.S. poverty rate for the elderly (65 and over) is higher than for the general population.

Which of the following was a major criticism of the welfare program before it was reformed in 1996?

Which of the following Gini ratios indicates the least degree of income inequality? Select one:

Which of the following provides public assistance to those who are blind and otherwise disabled?

The Earned Income Tax Credit: Select one:

Answer the next Question(s) on the basis of the following information. Suppose population A, consisting of Al, Bob, Curt, Doris, and Ellie, receive annual incomes of $5,000, $2,500,

The Personal Responsibility Act of 1996 required all employees to buy insurance against industrial accidents and diseases.

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