Please help! Can\'t figure these out and want a second opinion before I answer t
ID: 1210268 • Letter: P
Question
Please help! Can't figure these out and want a second opinion before I answer them.
6) The textbook attributes income inequality to differences in all of the following except
a. preferences about work and leisure
b. risk-taking
c. innate abilities and attributes
d. number of siblings
e. luck
7)Recent statistics show that "within-group" income inequality has been rising, a fact that Frank and Cook (Economics 24/7) attribute to the growing importance of
A. a bending Lorenz Curve.
b. a rising Gini Coefficient.
c. winner-take-all markets.
d. Marginal Productivity Theory.
e. the veil of ignorance.
8) Which of the following statements about income inequality in 2009 as compared to 1967 is true?
A. The share of the lowest quintile rose while the share of the highest quintile fell.
b. Income was more equally distributed in 2009 than it was in 1967.
c. The share of the top quitile increased while the shares of the bottom four quintiles decreased.
d. The average standard of living fell from 1967 to 2009.
9) The method used by the U.S. government to define poverty is stated
A. in absolute terms terms and is based on the idea of the poverty line.
B. in absolute terms and is based on the unemployment rate and the inflation rate.
C. in relative terms and is based on the value of the Gini Coefficient.
D. in relative terms and is based on the shape of the Lorenz Curve.
10) "Individuals not currently receiving welfare believe that they may one day need welfare" is the idea behind which justification for the government redistributing income?
A. private charity
B. social justice
C. Rawlsian veil of ignorance
D. social insurance
E. public good-free rider
Explanation / Answer
As per Chegg guidelines, only first question is to be answered.
Kindly ask rest of the questions in separate posts.
6.
Correct option: (e) luck
Reason: Textbook definition of income inequality refers to inequality amongst people based on their incomes, consumption choices, situations faced etc. Luck plays no role in defining or categorizing inequality.