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Income, Poverty and Health Care MCQ

Income, Poverty and Health Care MCQ

1. By 2060, what fraction of the U.S. population will be over age 65?

Answer

Correct Answer: About 1/4

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2. In the United States, consumers pay about ______ of health care costs out of pocket.

Answer

Correct Answer: 10%

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3. The federal income tax system levies ______.

Answer

Correct Answer: Higher marginal taxes on higher incomes

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4. In 2018, the highest marginal tax rate was ______.

Answer

Correct Answer: 37%

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5. The poverty rate fell steadily during the ______.

Answer

Correct Answer: 1960s

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6. The federal poverty line is about ______ for a family of four.

Answer

Correct Answer: $25,000

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7. When Orlando started his cleaning service, he hired five women and five men. Several of the men performed poorly, but most of the women did a good job. Now, whenever Orlando is looking to hire new workers, he saves himself some time and money by hiring more women. Orlando is discriminating in order to ______.

Answer

Correct Answer: Reduce information costs

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8. Women make up about ______ of the U.S. workforce.

Answer

Correct Answer: 1/2

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9. When a worker is given employment at a wage lower than that of other workers, based on something other than productivity, it is known as ______.

Answer

Correct Answer: Wage discrimination

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10. Total equality of family income would hurt ______ the most.

Answer

Correct Answer: A family with nine children

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11. Economists assume that interpersonal utility comparisons are ______.

Answer

Correct Answer: Impossible

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12. The principle of diminishing marginal utility is used to justify ______.

Answer

Correct Answer: Income redistribution

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13. Income inequality tends to be most pronounced in ______.

Answer

Correct Answer: Developing countries

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14. Goods and services given to assist people instead of money are known as ______.

Answer

Correct Answer: In-kind transfers

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15. The Lorenz curve shows the distribution of ______.

Answer

Correct Answer: Income

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16. Wage discrimination phenomenon is ethical.

Answer

Correct Answer: False

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17. Temporary Assistance for Needy Families (TANF) is for _____.A welfare program designed to help families that have few financial resources

Answer

Correct Answer: Needy

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18. SSI is a welfare program for the most needy,elderly ,disabled and _____.

Answer

Correct Answer: Blind

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19. The percentage of the population who fall below the poverty line is called_____.

Answer

Correct Answer: Poverty rate

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20. Poverty line is a set of money income thresholds to detect______.

Answer

Correct Answer: Poor

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21. Means-tested income transfer programs are dependent on _____.

Answer

Correct Answer: Low income

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22. Job-entry discrimination is when a person is ______ employment on the basis of some biological features.

Answer

Correct Answer: Denied

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23. In-kind transfers are transfers in the form of services and goods rather than_____.

Answer

Correct Answer: Money

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24. A welfare program that allows the working poor to receive income refunds that can be _____than the taxes they paid during the last year is called Earned income tax credit.

Answer

Correct Answer: Greater

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25. Cash transfers are _____payments such as welfare,Social Security, and unemployment compensation.

Answer

Correct Answer: Direct cash

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