Lecture 2 Notes - Econ 101 Introduction to Microeconomics...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Econ 101 Introduction to Microeconomics Professor Richard V. Burkhauser Income Inequality in the 1990s Income Inequality in the 1990s Burkhauser, Richard V., Kenneth A. Couch, Andrew J. Houtenville, and Ludmilla Rovba. Income Inequality in the 1990s: Re-forging a Lost Relationship? Journal of Income Distribution , 12(3-4) (2003-2004): 8-35. Burkhauser, Richard V., Takashi Oshio, Ludmila Rovba. Winners and Losers over the 1990s Business Cycles in Germany, Great Britain, Japan and the United States. Schmollers Jahrbuch . (forthcoming). Econ 101 Professor Burkhauser Question 1: What is your best guess of your households before tax income last year? a) 0 - $17,783 b) $17,784 - $33,882 c) $33,883 - $54,200 d) $54,201 - $84,710 e) $84,711 - $114,674 f) $114,675 - $150,380 g) $150,381 - $210,631 h) $210,632 - $390,845 i) $390,845+ Econ 101 Professor Burkhauser Question 2: The 1980s have been described as a period when the rich got richer, the poor got poorer, and large portions of the middle class became poorer. Is this an accurate view of the 1980s? a) Yes b) No Econ 101 Professor Burkhauser Question 3: The 1990s have been described as a period when the rich got richer, the poor got poorer, and large portions of the middle class became poorer. Is this an accurate view of the 1990s? a) Yes b) No Econ 101 Professor Burkhauser Question 4: In the 1990s, all Americans improved their economic wellbeing, but African Americans, single women with children, and those receiving welfare did better than average. Is this an accurate view of the 1990s? a) Yes b) No Econ 101 Professor Burkhauser Figure 1. Real Median Household Income in the United States: Total Population, 1970 to 2003 (in 2002 dollars) 32000 34000 36000 38000 40000 42000 44000 1 9 7 1 9 7 1 1 9 7 2 1 9 7 3 1 9 7 4 1 9 7 5 1 9 7 6 1 9 7 7 1 9 7 8 1 9 7 9 1 9 8 1 9 8 1 1 9 8 2 1 9 8 3 1 9 8 4 1 9 8 5 1 9 8 6 1 9 8 7 1 9 8 8 1 9 8 9 1 9 9 1 9 9 1 1 9 9 2 1 9 9 3 1 9 9 4 1 9 9 5 1 9 9 6 1 9 9 7 1 9 9 8 1 9 9 9 2 2 1 2 2 2 3 Year Median Income Peak Peak Peak Trough Trough Peak to Peak Median American Household Better Off Econ 101 Professor Burkhauser...
View Full Document

This note was uploaded on 04/08/2008 for the course ECON 1110 taught by Professor Wissink during the Fall '06 term at Cornell University (Engineering School).

Page1 / 29

Lecture 2 Notes - Econ 101 Introduction to Microeconomics...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online