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The Psychology of Economic Inequality

Description: This quiz will test your knowledge of the psychology of economic inequality, including its causes, consequences, and potential solutions.
Number of Questions: 15
Created by:
Tags: economic psychology economic inequality social psychology
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Which of the following is NOT a commonly cited cause of economic inequality?

  1. Discrimination

  2. Inheritance

  3. Education

  4. Luck

Show answer
Correct Option: D
Explanation:

While luck can play a role in individual economic outcomes, it is not typically considered a systemic cause of economic inequality.

Which of the following is a potential consequence of economic inequality?

  1. Increased social mobility

  2. Reduced crime rates

  3. Improved health outcomes

  4. Increased political polarization

Show answer
Correct Option: D
Explanation:

Economic inequality can lead to increased political polarization, as people with different economic interests may have different political views.

Which of the following is a potential solution to economic inequality?

  1. Progressive taxation

  2. Increased government spending on social programs

  3. Reduced regulation of businesses

  4. Privatization of public services

Show answer
Correct Option: A
Explanation:

Progressive taxation, in which higher earners pay a higher percentage of their income in taxes, is a potential solution to economic inequality.

Which of the following is a psychological factor that can contribute to economic inequality?

  1. Cognitive biases

  2. Social norms

  3. Personality traits

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above psychological factors can contribute to economic inequality.

Which of the following is a cognitive bias that can contribute to economic inequality?

  1. Confirmation bias

  2. Framing effect

  3. Illusion of control

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above cognitive biases can contribute to economic inequality.

Which of the following is a social norm that can contribute to economic inequality?

  1. The belief that hard work leads to success

  2. The belief that the wealthy deserve their wealth

  3. The belief that the poor are lazy

  4. All of the above

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Correct Option: D
Explanation:

All of the above social norms can contribute to economic inequality.

Which of the following is a personality trait that can contribute to economic inequality?

  1. Extraversion

  2. Conscientiousness

  3. Neuroticism

  4. All of the above

Show answer
Correct Option: B
Explanation:

Conscientiousness is a personality trait that is associated with higher levels of economic success.

Which of the following is a potential consequence of economic inequality for individuals?

  1. Increased stress and anxiety

  2. Reduced life expectancy

  3. Poorer health outcomes

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above potential consequences of economic inequality for individuals.

Which of the following is a potential consequence of economic inequality for society?

  1. Increased crime rates

  2. Reduced social cohesion

  3. Increased political instability

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above potential consequences of economic inequality for society.

Which of the following is a potential solution to economic inequality that has been implemented in some countries?

  1. Universal basic income

  2. Wealth tax

  3. Inheritance tax

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above potential solutions to economic inequality have been implemented in some countries.

Which of the following is a challenge to addressing economic inequality?

  1. The political power of the wealthy

  2. The lack of public awareness about the issue

  3. The complexity of the issue

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above challenges to addressing economic inequality.

Which of the following is a potential benefit of addressing economic inequality?

  1. Increased economic growth

  2. Reduced social unrest

  3. Improved environmental sustainability

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above potential benefits of addressing economic inequality.

Which of the following is a key finding from research on the psychology of economic inequality?

  1. People tend to underestimate the extent of economic inequality.

  2. People tend to believe that economic inequality is fair.

  3. People tend to support policies that reduce economic inequality.

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above key findings from research on the psychology of economic inequality.

Which of the following is a limitation of research on the psychology of economic inequality?

  1. Most research has focused on Western countries.

  2. Most research has focused on individual-level factors.

  3. Most research has focused on short-term effects.

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above limitations of research on the psychology of economic inequality.

What are some promising directions for future research on the psychology of economic inequality?

  1. Research on the role of emotions in economic inequality.

  2. Research on the role of culture in economic inequality.

  3. Research on the long-term effects of economic inequality.

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the above promising directions for future research on the psychology of economic inequality.

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