Flashcards in Poverty and Economic Equality Deck (12):
Poverty are number of people who___
fall below certain level of income called poverty line.
Income inequality compares the share of total income___
in society that received by different groups.
% of population below poverty line.
The poor earn $, gov't reduce level of assistance it provides. Poor people have no net gain.
Temporary Assistance for Needy Families (TANF)-
provided cash to mothers w/ children who were below poverty line
Earned Income Tax Credit assists the working poor through___
Rank all households by income, then divide all households into 5 groups.
Lorenz Curve shows___
a share of population on horizontal axis; a percentage of total income on vertical axis.
Shift in wage___
More college grads in recent years than before. Shift demand curve to the right. Which increase in price for high skilled labor.
Wealth is a sum of___
Progressive tax system designed so that___
rich people pay more for tax.