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Flashcards in Micro Test 3 Deck (11)
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1
Q

Highest fifth of all families make up what percent of the distribution of annual money income?

A

50%

2
Q

Families with head of household with a bachelor degrees has the lowest poverty rate

A

Education and the poverty rate (the poverty rate is the lowest)

3
Q

A graph of the actual cumulative distribution of income compared to a perfectly equal cumulative distribution of income

A

Lorenz Curve

4
Q

Federal Insurance Contribution Act

A

FICA

5
Q

Medicare
Medicaid
Supplement Nutrition Assistance Program (SNAP)
Housing Assistance

A

Types of in-kind payments

6
Q

A plan under with familiar below a certain break-even level of income would receive cash payments that decrease as their income increase

A

Negative income tax (NIT)

7
Q

The principle that employees who work for the same employer must ve paid the same wage when their jobs, even if different, require similar levels of education, training, experience, and responsibility. A non market wage-setting process is used to evaluate and compensate jobs according to pint scores assigned to different jobs

A

Comparable worth (equal pay)

8
Q

1964 poverty line is how many times at or below the $ needed to feed the family

A

three times (3 times)

9
Q

Firms that place their assets in the custody of a board of trusties

A

Trust

10
Q

The practice of one or more firms temporary reducing prices in oder to eliminate competition and then raising prices

A

Predatory pricing

11
Q

Example: building materials in government contracts and the answer is:

A

Price Fixing