Bus 1104 self quiz unit 7 PDF

Preview

Summary

bus 1104 self quiz...

Description

Question 1IncorrectMark 0.00 out of 1.00Not flaggedFlag question Question text Reform to the welfare system in the United States in 1996: Select one: a. defined a minimum period of eligibility. Incorrect b. gave states the power to design their own welfare programs. c. increased noncash benefits after 2 years. d. increased cash benefits after 2 years. Feedback The correct answer is: gave states the power to design their own welfare programs. Question 2IncorrectMark 0.00 out of 1.00Not flaggedFlag question Question text Evidence suggests that all countries with very high Select one: a. inflation rates also have very high money growth rates. b. unemployment rates also have very high GDP growth rates. Incorrect c. GDP growth rates also have very high government budget deficits. d. government budget deficits also have very high inflation rates. Feedback The correct answer is: inflation rates also have very high money growth rates. Question 3CorrectMark 1.00 out of 1.00Not flaggedFlag question Question text Economists define discrimination as occurring when: Select one: a. one person receives a lower income for doing an apparently similar job as another. b. people with similar characteristics experience different economic outcomes because of sex, race, or other noneconomic characteristics. Correct c. a male professor receives a higher salary than a female professor. d. people don't like others because of their sex or race.

Feedback The correct answer is: people with similar characteristics experience different economic outcomes because of sex, race, or other noneconomic characteristics. Question 4IncorrectMark 0.00 out of 1.00Not flaggedFlag question Question text Which of the following is a cost of unemployment?

I. output foregone

II. unemployment compensation that must be paid

III. rising inflation that erodes the value of money

Select one: a. I, II, and III b. I and II c. I and III Incorrect d. II and III Feedback Your answer is incorrect.

The correct answer is: I and II Question 5CorrectMark 1.00 out of 1.00Not flaggedFlag question Question text The poverty line for a household with nine people in 2010 was: Select one: a. between $11,000 and $12,000. b. between $16,000 and $17,000. c. between $22,000 and $23,000.

d. over $45,000. Correct Feedback The correct answer is: over $45,000. Question 6CorrectMark 1.00 out of 1.00Not flaggedFlag question Question text The poverty rate for blacks in the United States in 2010 was about _______ percent. Select one: a. 3 b. 7 c. 25 Correct d. 40 Feedback The correct answer is: 25 Question 7IncorrectMark 0.00 out of 1.00Not flaggedFlag question Question text Studies of family income over time reveal that: Select one: a. most people in the lowest quintile tend to stay there over their lifetimes. b. income mobility is rare for all quintiles of the income distribution. Incorrect c. many people who move down the income ladder tend to be young. d. many people who start out at the bottom of the income ladder when they are young move up the income ladder as they age. Feedback The correct answer is: many people who start out at the bottom of the income ladder when they are young move up the income ladder as they age. Question 8CorrectMark 1.00 out of 1.00Not flaggedFlag question Question text In a stagflation phase, a decrease in short-run aggregate supply will generate Select one:

a. an increase in the inflation rate and in the unemployment rate. Correct b. an increase in the inflation rate and a decrease in the unemployment rate. c. an increase in the inflation rate with no change in the unemployment rate. d. a decrease in the inflation rate and an increase in the unemployment rate. Feedback The correct answer is: an increase in the inflation rate and in the unemployment rate. Question 9CorrectMark 1.00 out of 1.00Not flaggedFlag question Question text The primary evidence of income inequality in the United States is provided by: Select one: a. the IRS. b. census data. Correct c. the Department of Agriculture. d. research economists. Feedback The correct answer is: census data. Question 10IncorrectMark 0.00 out of 1.00Not flaggedFlag question Question text What is a reservation wage? Select one: a. It is the highest wage that an unemployed worker would accept, if it were offered. b. It is the lowest wage that an unemployed worker would accept, if it were offered. c. It is the highest wage that an employer will offer a potential worker if there are many candidates vying for the job. d. It is the lowest wage that an unemployed worker would accept, excluding any non-pecuniary benefits. Incorrect Feedback The correct answer is: It is the lowest wage that an unemployed worker would accept, if it were offered....