Question 1

______ and ______ provide most income for most people.

Accepted Answer

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

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.

Question 3

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 4

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

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Question 7

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

Accepted Answer

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

Question 8

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 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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%

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

A sales tax is an example of a ______.

Accepted Answer

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

Question 16

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

Question 17

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

Accepted Answer

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

Question 18

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

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

Exam 4: Wealth and Income

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A sales tax is an example of a ______.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedIncome is the inflow of money over a per...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

______ and ______ provide most income for most people.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Income is the inflow of money over a per...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

and provide most income for most people.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified