Ch 5 Flashcards
What does wealth refer to?
Wealth refers to mostly real estate, stocks, & bonds
What does income refer to?
Income reflects salary and wages
Members at the top of the upper class; known as the “upper uppers, blue bloods, old money, high society make up what percent of society?
Comprise less than 1% of the total U.S population. Most in this class are a matter of birth or inheritance.
Lower-upper class( new rich) refers to who?
Described as “new money, the working rich, or corporate class.” Most achieve this status through entrepreneurship; athletes, lottery winners. 3-4% of pop.
Middle class
40-45% of US pop.Most shaped by education.Dependent on salary/income versus inheritance.
Upper Middle
“elite” professionals such as doctors, lawyers, engineers.
Average Middle
“Minor” professions such as teachers and social workers
Lower middle/working class
Skilled laborers such as police and firemen
What can the wealthiest Americans live off?
Dividends from their investments without having to touch the principal or work for a salary.
What is food insecurity?
Not having access at all times to enough food for an active, healthy life, necessitating recourse to emergency food sources. More than 1:10 of Americans were food insecure in 2007
What is feminization of poverty?
Over representation of women in poverty; often heads of households. Relates to increases in divorce, separations, out-of-wedlock births.
Who make up the majority of people living in poverty in the US?
Whites
Who are more likely to be poor amongst the elderly, adults, or children?
Children
Where are US poverty rates highest?
Highest in central cities; but higher in rural areas than urban areas as a whole
In the U.S, what is social mobility closely linked to?
Educational attainment & economic opportunity.
What do women often experience when marriages end in divorce?
Downward social mobility
Have white women gained more from equal opportunity laws & affirmative action programs than people of color?
Yes