Exam 19: Economic Inequality

A regressive income tax is a tax for which the average tax rate

The cost of acquiring a skill accounts for why the

If the Lorenz curve for income moves upward toward the 45° line, then the

High-skilled workers earn more relative to low-skilled workers because the demand for high-skilled workers is ________ that for low-skilled workers and the supply is ________ that for low-skilled workers.

Workers who have invested in education and training

What determines the position of the supply curve of high-skilled workers relative to that of low-skilled workers?

A household's income earned from the markets for factors of production and with no government redistribution is

The rates of return on high school and university educations have

-Which of the following statements is correct?

-The table above shows three taxpayers, their incomes, and taxes owed. The data reflect a ________ income tax system because people pay ________.

A Lorenz curve for income shows the

Poverty for a household is defined as the state of

Looking at the results of government income redistribution programs, we expect to find that the income received by the

-Comparing the wealth and income distribution in Australia, we see that

Measured annual income inequality overstates actual lifetime inequality because

With a negative income tax that has a $10,000 guaranteed income and a 25 per cent tax rate, a household that has a market income of $14,000 has a total income of

With a negative income tax that has a $10,000 guaranteed minimum income and a 25 per cent tax rate, a household that has earned income of $16,000 has a total income of

-In the figure above, the nation with the least equal distribution of income is nation

Discrimination by customers creates a wage differential between two groups by creating a difference in the two groups'

The inequality of annual income