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USU-Intro To MacroEcon - Assignment 15

USU-Intro To MacroEcon - Assignment 15 - Assignment 15...

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Assignment 15 Question 1 (1 point) In a market system, those who own the most highly valued resources 1. pay the greatest property tax. 2. have the highest incomes. 3. employ the greatest numbers of people. 4. support charitable organizations in the community. 5. pay the largest share of income taxes. Question 2 (1 point) If everyone had the same income, the Lorenz curve would 1. bow up above the line of income equality. 2. bow down below the line of income equality. 3. be the line of income equality. 4. be a curve that intersects the line of income equality where 50 percent of the population earns 50 percent of the income. 5. be a line below and parallel to the line of income equality. Question 3 (1 point) The Lorenz curve shows __________ within a society. 1. the absolute level of income 2. the per capita annual income of individuals 3. the income distribution 4. the quality of life of the poor 5. who the poor are Question 4 (1 point) If the first row in the table above represents the percentage of population and the second row the percent of income earned by that percentage of population, then we can say 1. incomes are distributed unequally with the richest 20 percent having the greatest percentage of income. 2. incomes are distributed unequally with the richest 20 percent earning 10 percent of income. 3. incomes are distributed equally.
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4. incomes are distributed unequally with the richest 20 percent earning 30 percent. 5. incomes are distributed unequally with the poorest having the greatest percentage of income. Question 5 (1 point) Refer to the figure above. In comparing Country A's income distribution with that of Country B, we can say that 1. Country B has a substantially greater degree of income equality than Country A. 2. the absolute level of income in Country B must substantially exceed that of Country A. 3. the absolute level of income in Country A must substantially exceed that of Country B.
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