Exam 12: Income and Social Class

Education is one determining factor in future income.

The average American's standard of living continues to improve. These income shifts are linked to two key factors: ________.

American spendthrifts outnumber American tightwads.

When people are differentiated in terms of their aesthetic and intellectual preferences, a ________ is being applied.

According to Pierre Bourdieu, people's taste regarding entertainment and the arts serves as a status-making force or ________ that causes consumption preferences to cluster together.

Which of the following is a determiner of how much a person will save (saving rate)?

Fred has been a farmer all his life. He inherited the family farm when he was 35, but that was twenty years ago. Due to the economy, Fred has lost the farm and has taken a manual labor job in the city to support his family. What form of mobility best describes Fred's position?

Blue-collar workers with relatively high-prestige jobs consider themselves as ________.

Samuel would like to use occupational prestige to measure social class, but his study is international, and prestige of occupation changes from one culture to the next.

A middle class person with an income at least 15 percent lower than the median middle class income, would be considered a(n) ________ consumer.

Consumers who refuse to sacrifice style, but achieve it on a budget are called ________.

Which of the following theorists is best known for arguing that an individual's relationship to the means of production determines his position in society?

When a Rolls-Royce, a Cartier diamond, and an Andy Warhol painting are bought and displayed as markers of social class, they are ________.

Most groups exhibit a structure called a ________ in which some members are somehow better off than others in terms of authority, power, or respect.

Restricted codes focus on the content of objects, not on relationships among objects.

Social stratification refers to the creation of artificial divisions in a society.

How do people who bought the real thing react when they see imitations of their prized handbags or watches parading by them on the street? What are some of the global problems that are created by counterfeit products?

An example of social mobility is when a consumer moves from one social class to another.

Hundreds of millions of global consumers now enjoy a level of purchasing power that's sufficient to let them afford high-quality products-except for big-ticket items such as college educations, housing, or luxury cars. This consumer group, known as the ________, tend to buy affordable cars rather than luxury cars.

Although there are many differences between social classes, almost all these differences can be summarized by the differences that income makes in a person's life.