Economy In The US Class Notes

Question 1

We need to rely on immigration for work that requires _________ and ________ skilled work.

Answer 1

High

Low

Question 2

How does Minnesota rank in education?

Answer 2

Very high

Question 3

What Curve measure income inequality?

Answer 3

Lorenz Curve

Question 4

What would solve social security solvency?

Answer 4

Immigration of workers

Question 5

To be in the top 20% you must be _______ into a family in the top 20%.

Answer 5

Born

Question 6

Income taxes in the US today are what taxes?

Answer 6

Progressive taxes

Question 7

What are two examples of a regressive taxes?

Answer 7

Sales tax

Property tax

Question 8

What are considered flat taxes?

Answer 8

Proportional taxes

Question 9

The social security can be set up to be a ____________ payout system. Whoever has a little retirement, gets more social security, and whoever has a big retirement, gets less social security.

Answer 9

Regressive

Question 10

Another solution to social security is increase the _____________ age.

Answer 10

Retirement

Question 11

What measures how far an individual is from the average?

Answer 11

The standard deviation

Question 12

France is ranked #1 in healthcare because it treats healthcare as a what?

Answer 12

Public good

Question 13

The US ranks where in terms of healthcare?

Answer 13

37