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Economic Inequality and Social Welfare Research

Description: Economic Inequality and Social Welfare Research Quiz
Number of Questions: 15
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Tags: economics economic research economic inequality social welfare
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What is the primary focus of economic inequality research?

  1. The distribution of income and wealth among individuals and groups

  2. The causes and consequences of economic inequality

  3. The impact of economic inequality on social welfare

  4. All of the above


Correct Option:
Explanation:

Economic inequality research encompasses the study of income and wealth distribution, its causes and consequences, and its impact on social welfare.

Which measure is commonly used to quantify income inequality?

  1. Gini coefficient

  2. Lorenz curve

  3. Palma ratio

  4. Atkinson index


Correct Option:
Explanation:

The Gini coefficient is a widely used measure of income inequality that ranges from 0 (perfect equality) to 1 (perfect inequality).

What is the Kuznets curve hypothesis?

  1. Income inequality initially increases and then decreases as a country develops

  2. Income inequality remains constant as a country develops

  3. Income inequality decreases and then increases as a country develops

  4. Income inequality is unrelated to a country's level of development


Correct Option:
Explanation:

The Kuznets curve hypothesis suggests that income inequality tends to follow an inverted U-shaped pattern as a country develops.

Which factor is often associated with higher levels of income inequality?

  1. Technological change

  2. Globalization

  3. Education inequality

  4. All of the above


Correct Option:
Explanation:

Technological change, globalization, and education inequality are among the factors that have been linked to higher levels of income inequality.

How does income inequality affect social welfare?

  1. It can lead to social unrest and political instability

  2. It can reduce economic growth and productivity

  3. It can worsen health outcomes and life expectancy

  4. All of the above


Correct Option:
Explanation:

Income inequality has been associated with a range of negative social and economic consequences, including social unrest, political instability, reduced economic growth, and poorer health outcomes.

What is the concept of relative deprivation in the context of economic inequality?

  1. The feeling of being worse off compared to others in society

  2. The lack of basic necessities and resources

  3. The inability to afford desired goods and services

  4. All of the above


Correct Option:
Explanation:

Relative deprivation refers to the subjective feeling of being worse off compared to others in society, even if one's absolute standard of living is improving.

Which policy approach aims to reduce income inequality by redistributing wealth from the rich to the poor?

  1. Progressive taxation

  2. Universal basic income

  3. Wealth tax

  4. All of the above


Correct Option:
Explanation:

Progressive taxation, universal basic income, and wealth tax are among the policy approaches that have been proposed to address income inequality through redistribution.

What is the concept of social mobility in the context of economic inequality?

  1. The ability of individuals to move up or down the economic ladder

  2. The extent to which individuals' economic status is determined by their family background

  3. The degree of income inequality in a society

  4. None of the above


Correct Option:
Explanation:

Social mobility refers to the ability of individuals to move up or down the economic ladder, either through their own efforts or through changes in the economic structure.

Which factor is often associated with lower levels of income inequality?

  1. Strong labor unions

  2. Progressive taxation

  3. Investment in education and healthcare

  4. All of the above


Correct Option:
Explanation:

Strong labor unions, progressive taxation, and investment in education and healthcare are among the factors that have been linked to lower levels of income inequality.

What is the concept of the 'Great Gatsby Curve' in the context of economic inequality?

  1. The relationship between income inequality and social mobility

  2. The relationship between income inequality and economic growth

  3. The relationship between income inequality and political polarization

  4. None of the above


Correct Option:
Explanation:

The 'Great Gatsby Curve' refers to the relationship between income inequality and social mobility, suggesting that higher levels of income inequality tend to be associated with lower levels of social mobility.

Which economic theory argues that income inequality is a necessary incentive for economic growth?

  1. Trickle-down economics

  2. Supply-side economics

  3. Keynesian economics

  4. Marxian economics


Correct Option:
Explanation:

Trickle-down economics is a theory that argues that reducing taxes on the wealthy and corporations will lead to increased investment and economic growth, which will eventually benefit all members of society.

What is the concept of 'predistribution' in the context of economic inequality?

  1. The redistribution of wealth after it has been earned

  2. The redistribution of wealth before it has been earned

  3. The redistribution of wealth through progressive taxation

  4. None of the above


Correct Option:
Explanation:

Predistribution refers to policies and interventions aimed at reducing income inequality before it arises, such as investments in early childhood education and healthcare.

Which international organization publishes the annual World Inequality Report?

  1. World Bank

  2. International Monetary Fund

  3. World Economic Forum

  4. World Inequality Lab


Correct Option:
Explanation:

The World Inequality Lab is a research institute that publishes the annual World Inequality Report, which provides data and analysis on global income and wealth inequality.

What is the concept of 'meritocracy' in the context of economic inequality?

  1. A system in which economic success is based on individual talent and effort

  2. A system in which economic success is based on family background and connections

  3. A system in which economic success is based on luck and chance

  4. None of the above


Correct Option:
Explanation:

Meritocracy refers to a system in which economic success is based on individual talent and effort, rather than factors such as family background or social connections.

Which economic indicator measures the share of national income earned by the top 1% of earners?

  1. Gini coefficient

  2. Lorenz curve

  3. Palma ratio

  4. Atkinson index


Correct Option:
Explanation:

The Palma ratio is an economic indicator that measures the share of national income earned by the top 1% of earners.

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