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1、File:Chapter18WhoGetsWhat?TheDistributionofIncomeTrue/False[Question]1.Therecessionthatbeganwithahousingmarketcrashin2007hadtheeffectofreducingincomeinequality.Ans:FalseAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:18-01Topic:MeasuringtheDistributionofI
2、ncome,Wealth,andPovertyFeedback:Theseriousrecessionreducedthewealthofthosewhosehomeslostvalueandtheincomeofthosewhosejobswerelost.[Question]2.Allreal-worldLorenzcurvesarebelowthediagonallinebecauseincomeisalwaysdistributedunequallyintherealworld.Ans:TrueAACSB:ReflectiveThinkingBloo
3、m’s:RememberDifficulty:01EasyLearningObjective:18-01Topic:MeasuringtheDistributionofIncome,Wealth,andPovertyFeedback:Thediagonallinerepresentsaperfectlyequaldistributionofincome.TheLorenzcurvecannotbeabovethediagonallinebydefinition,butintherealworld,incomedistributionisunequal.[Qu
4、estion]3.TheLorenzcurvewouldbeadiagonallineifincomeweredistributedequally.Ans:TrueAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:18-01Topic:MeasuringtheDistributionofIncome,Wealth,andPovertyFeedback:Thediagonallinerepresentsanincomedistributionsuchthatea
5、chquintilefamilyearnsthesamequintileofincome.Thatis,incomeisequallydistributed.[Question]4.IncomeinequalityincreasedintheUnitedStatesfrom1929to1970anddecreasedthereafter.Ans:FalseAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:18-01©2017byMcGraw-HillEduca
6、tion. Thisisproprietarymaterialsolelyforauthorizedinstructoruse.Notauthorizedforsaleordistributioninanymanner. Thisdocumentmaynotbecopied,scanned,duplicated,forwarded,distributed,orpostedonawebsite,inwholeorpart. Topic:MeasuringtheDistributionofIncome,Wealth,andPovertyFeedback:From
7、1929to1970incomeinequalityintheUnitedStatesdecreased.From1970totodayithasincreased.[Question]5.PovertyisdefinedbytheU.S.governmentashavinganincomeequaltoorlessthanthreetimesanaveragefamily'sminimumfoodexpenditureascalculatedbytheU.S.DepartmentofAgriculture.Ans:TrueAACSB:ReflectiveT
8、hinkingBloom’s:RememberDif
