THINKING EXERCISE 2 - NAME_YIN SHEN DATE SO 101 CRN 40343...

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N AME ________ YIN SHEN __________ D ATE _______6/14/2011__________ SO 101 CRN 40343: I NTRODUCTION T O S OCIOLOGY M ONTGOMERY C OLLEGE (R OCKVILLE ) S UMMER 2011 T HINKING E XERCISE #2: E XPERIENCES O F P OVERTY (T OTAL = 25 P OINTS ) O N -T IME D EADLINE : W EDNESDAY , J UNE 15, 2011 @ 1:00 P.M. L ATE D EADLINE : T HURSDAY , J UNE 16, 2011 @ 1:00 P.M. I NSTRUCTIONS : Read Chapter 10 in your textbook entitled “Social Class in the U.S.” Then, answer the following questions by typing your responses directly on this document. Submit a hardcopy only. You can email as a Microsoft Word attachment or PDF file only under certain conditions (e.g., no printer, class absence). I. Y OUR F INANCES Assume you are not a college student and have only a 10 th grade education. You have no savings and no goods to sell. Assume you have one full-time and one part-time job that both pay the minimum wage of $7.25 per hour, and you work a total of 60 hours per week. You receive no company benefits such as health insurance or paid leave. Assume you are married with two children, both of whom are under the age of 10 and attend elementary school. Your spouse is unemployed because of a layoff and therefore takes care of the children full-time (it does not matter which sex the spouse is). Because your family is intact, your family is only eligible for food stamps, but your children receive Children’s Health Insurance Program benefits. A. In the table provided, prepare a comprehensive list of monthly expenses that shows how you will budget your money in the situation described above. You will have to conduct some external research to see the living costs in Maryland, Virginia, or Washington, D.C. Assume a tax-free society. Do not just fantasize – be realistic with your monthly estimates. Your monthly expenses should not exceed your monthly income.
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