Question 1

In recent years, poverty rates among the elderly have declined as a result of ______.

Accepted Answer

A)  increases in the stock market 
B)  their increased participation in the labor force 
C)  more generous Social Security benefits 
D)  faith-based initiatives 
A)  increases in the stock market 
B)  their increased participation in the labor force 
C)  more generous Social Security benefits 
D)  faith-based initiatives

Question 2

Which of the following is NOT a reason that women tend to have higher rates of poverty than men?

Accepted Answer

A)  Women have shorter, less continuous work histories than men. 
B)  Women generally find themselves in lower paid pink-collar jobs. 
C)  After marital separation, the economic situation of women deteriorates. 
D)  Men are not required to pay child support. 
A)  Women have shorter, less continuous work histories than men. 
B)  Women generally find themselves in lower paid pink-collar jobs. 
C)  After marital separation, the economic situation of women deteriorates. 
D)  Men are not required to pay child support.

Question 3

Although the more generous Social Security benefits of recent years have sharply reduced poverty among the elderly, older women living alone continue to have high poverty rates.

Accepted Answer

A) True 
 B)False

Question 4

A tax that takes higher proportions of income at lower income levels is a ______.

Accepted Answer

A)  proscriptive tax 
B)  progressive tax 
C)  federal tax 
D)  regressive tax 
A)  proscriptive tax 
B)  progressive tax 
C)  federal tax 
D)  regressive tax

Question 5

Roughly one third of Hispanic and Black families have incomes below $35,000.

Accepted Answer

A) True 
 B)False

Question 6

What percentage of American households have incomes of $200,000 or more?

Accepted Answer

A)  2% 
B)  8% 
C)  14% 
D)  20% 
A)  2% 
B)  8% 
C)  14% 
D)  20%

Question 7

Most married women still earn less than their partners do, though the gap has been closing.

Accepted Answer

A) True 
 B)False

Question 8

Wealth can be defined as monetary gain over a specified period of time.

Accepted Answer

A) True 
 B)False

Question 9

The concentration of wealth at the top is so great that the top 1% now holds more net worth than the bottom ______.

Accepted Answer

A)  50% 
B)  60% 
C)  75% 
D)  90% 
A)  50% 
B)  60% 
C)  75% 
D)  90%

Question 10

From 1960 to 2000, the labor force participation rate of wives ______.

Accepted Answer

A)  declined 
B)  doubled 
C)  tripled 
D)  quadrupled 
A)  declined 
B)  doubled 
C)  tripled 
D)  quadrupled

Question 11

This majority of people in this class, hit particularly hard but the Great Recession, have a negative net worth, and few are worth more than $10,000.

Accepted Answer

A)  investor 
B)  capitalist 
C)  nearly propertyless 
D)  nest-egg 
A)  investor 
B)  capitalist 
C)  nearly propertyless 
D)  nest-egg

Question 12

The federal personal income tax is progressive in its overall effect.

Accepted Answer

A) True 
 B)False

Question 13

Most Americans derive the greater part of their net worth from all of these asset types EXCEPT ______.

Accepted Answer

A)  home equity 
B)  bank deposits 
C)  car equity 
D)  interest payments 
A)  home equity 
B)  bank deposits 
C)  car equity 
D)  interest payments

Question 14

For the bottom 40% of households, a significant portion of income comes from government transfers such as ______.

Accepted Answer

A)  Social Security, veterans' benefits, and public assistance 
B)  Social Security, financial aid, and farm aid 
C)  children's earnings, extended family support, and Social Security 
D)  extended family support, Social Security, and public assistance 
A)  Social Security, veterans' benefits, and public assistance 
B)  Social Security, financial aid, and farm aid 
C)  children's earnings, extended family support, and Social Security 
D)  extended family support, Social Security, and public assistance

Question 15

______ and ______ provide most income for most people.

Accepted Answer

A)  Income; dividends 
B)  Wages; salaries 
C)  Wages; interest 
D)  Income; interest 
A)  Income; dividends 
B)  Wages; salaries 
C)  Wages; interest 
D)  Income; interest

Question 16

Which of the following is one of the three broad classes of wealth holders identified in the text?

Accepted Answer

A)  the homeowner class 
B)  the nest-egg class 
C)  the savings class 
D)  the gig economy class 
A)  the homeowner class 
B)  the nest-egg class 
C)  the savings class 
D)  the gig economy class

Question 17

List two reasons why the economic situation of women tends to become more precarious after divorce, whereas men's tends to improve.

Accepted Answer

Income is the inflow of money over a per

Question 18

The economic situation of women tends to improve after a marital separation, whereas that of men deteriorates.

Accepted Answer

A) True 
 B)False

Question 19

A sales tax is an example of a ______.

Accepted Answer

A)  proscriptive tax 
B)  progressive tax 
C)  regressive tax 
D)  restrictive tax 
A)  proscriptive tax 
B)  progressive tax 
C)  regressive tax 
D)  restrictive tax

Question 20

Educational loan debt is increasing at a greater rate than all other debt.

Accepted Answer

A) True 
 B)False

In recent years, poverty rates among the elderly have declined as a result of ______.

Which of the following is NOT a reason that women tend to have higher rates of poverty than men?

Although the more generous Social Security benefits of recent years have sharply reduced poverty among the elderly, older women living alone continue to have high poverty rates.

A tax that takes higher proportions of income at lower income levels is a ______.

Roughly one third of Hispanic and Black families have incomes below $35,000.

What percentage of American households have incomes of $200,000 or more?

Most married women still earn less than their partners do, though the gap has been closing.

Wealth can be defined as monetary gain over a specified period of time.

The concentration of wealth at the top is so great that the top 1% now holds more net worth than the bottom ______.

From 1960 to 2000, the labor force participation rate of wives ______.

This majority of people in this class, hit particularly hard but the Great Recession, have a negative net worth, and few are worth more than $10,000.

The federal personal income tax is progressive in its overall effect.

Most Americans derive the greater part of their net worth from all of these asset types EXCEPT ______.

For the bottom 40% of households, a significant portion of income comes from government transfers such as ______.

and provide most income for most people.

Which of the following is one of the three broad classes of wealth holders identified in the text?

List two reasons why the economic situation of women tends to become more precarious after divorce, whereas men's tends to improve.

The economic situation of women tends to improve after a marital separation, whereas that of men deteriorates.

A sales tax is an example of a ______.

Educational loan debt is increasing at a greater rate than all other debt.

Social Class in America

Position and Prestige

Social Class, Occupation, and Social Change

Socialization, Association, Lifestyles, and Values

Social Mobility: The Societal Context

Family, Education, and Career

Elites, the Capitalist Class, and Political Power

Class Consciousness and Class Conflict

Poverty and Public Policy

The American Class Structure and Growing Inequality

Filters

Exam 4: Wealth and Income

In recent years, poverty rates among the elderly have declined as a result of ______.

Which of the following is NOT a reason that women tend to have higher rates of poverty than men?

Although the more generous Social Security benefits of recent years have sharply reduced poverty among the elderly, older women living alone continue to have high poverty rates.

A tax that takes higher proportions of income at lower income levels is a ______.

Roughly one third of Hispanic and Black families have incomes below $35,000.

What percentage of American households have incomes of $200,000 or more?

Most married women still earn less than their partners do, though the gap has been closing.

Wealth can be defined as monetary gain over a specified period of time.

The concentration of wealth at the top is so great that the top 1% now holds more net worth than the bottom ______.

From 1960 to 2000, the labor force participation rate of wives ______.

This majority of people in this class, hit particularly hard but the Great Recession, have a negative net worth, and few are worth more than $10,000.

The federal personal income tax is progressive in its overall effect.

Most Americans derive the greater part of their net worth from all of these asset types EXCEPT ______.

For the bottom 40% of households, a significant portion of income comes from government transfers such as ______.

______ and ______ provide most income for most people.

Which of the following is one of the three broad classes of wealth holders identified in the text?

List two reasons why the economic situation of women tends to become more precarious after divorce, whereas men's tends to improve.

The economic situation of women tends to improve after a marital separation, whereas that of men deteriorates.

A sales tax is an example of a ______.

Educational loan debt is increasing at a greater rate than all other debt.

Social Class in America

Position and Prestige

Social Class, Occupation, and Social Change

Socialization, Association, Lifestyles, and Values

Social Mobility: The Societal Context

Family, Education, and Career

Elites, the Capitalist Class, and Political Power

Class Consciousness and Class Conflict

Poverty and Public Policy

The American Class Structure and Growing Inequality

Filters

and provide most income for most people.