Poverty TR Quiz 1 Answers

Poverty TR Quiz 1 Answers - particular income rank 6 Is...

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Quiz # 1: Economics of Poverty – Econ 4350 – Fall 2009 – TR Name: T F 1. The flawed character cause of poverty refers to individual defects in aspiration or ability. T F 2. The restricted opportunity cause of poverty is due to government destroying incentives. T F 3. Human capital theory suggests that everyone's income reflects individual choices about investments in education and training. T F 4. The gap between consumption and income can never be particularly large. T F 5. Class stratification refers to a situation in which people are trapped in a
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Unformatted text preview: particular income rank. 6. Is efficiency in distribution violated when efficiency in production is violated? Explain. Yes. When production efficiency is violated, total output falls. When total output falls, some people are worse-off. 7. In evaluating regression outputs, what is the null hypothesis when we evaluate the statistical significance of an estimated coefficient? In regressions analysis, the null hypothesis states that the estimated coefficient equals to zero: b=0....
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