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Business
Study Set
Economics An Introduction
Quiz 18: The Two Americas Inequality, Class, and Conflict
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Question 1
Short Answer
Whats defention of terms: -class
Question 2
Short Answer
Whats defention of terms: -Gini coefficient
Question 3
Short Answer
Whats defention of terms: -income
Question 4
Short Answer
Whats defention of terms: -wealth
Question 5
Essay
Describe the sources of income and purchasing power for households. -What is the difference between income and wealth?
Question 6
Essay
Describe the sources of income and purchasing power for households. -Personal income can be broken down into five sources or categories. What are these categories and what percentage of personal income comes from each of these sources?
Question 7
Short Answer
Describe the sources of income and purchasing power for households. -Which sources of income are generated from work and which from the ownership of assets?
Question 8
Essay
Compare and contrast relevant statistics on income and wealth for the United States. -Use Table 18.2 in the text to describe how the distribution of income has changed in the United States over the last three decades. Has inequality increased or decreased? How do you know?
Question 9
Essay
Compare and contrast relevant statistics on income and wealth for the United States. -What is a Gini coefficient? What would it mean if the Gini coefficient were equal to zero? What if it were equal to one?