Exam 3 Flashcards

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1
Q

a society’s system of placing people into a hierarchy

A

social satisfaction

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2
Q

a system or organization in which people or groups are ranked one above the other according to status or authority

A

hierarchy

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3
Q

hierarchy is a ______ structure

A

verticle

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4
Q

satisfaction produces _____ _____

A

social classes

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5
Q

categories of people who have similar access to resources & opportunities

A

social classes

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6
Q

people _____ the same social class have _____ access to resources & opportunities

A

within, similar

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7
Q

the access to _____ is the most valuable

A

capital/money

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8
Q

salary of wages from a job plus earnings from any investments

A

income

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9
Q

value of all economic assets minus any debt

A

wealth

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10
Q

_____ is the money you make every year

A

income

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11
Q

____ is the total sum of all the money + assets you have saved

A

wealth

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12
Q

____ is used to build ____

A

income, wealth

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13
Q

there are unequal rates of increase; the extremely wealthy’s income doubled while the lower classes income increases by only a few dollars

A

adjusted income

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14
Q

wealth is distributed much _____ unequally than income

A

more

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15
Q

_____ of wealth is owned by ____ of the country

A

90%, 20%

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16
Q

the poores 1/5 of families have ____ ____ and are actually in ____

A

negative wealth, in debt

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17
Q

3 reasons the government taxes

A

-government operating costs
-discouraged behavior (sin tax)
-redistribute income + reduce inequality

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18
Q

through ____ ____, the tax rates go up as income increases

A

progressive taxation

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19
Q

a ____ ____ is a system that increases tax rates as income goes up; the ___ you ___ the ___ you ____

A

progressive tax; the more you make the more you pay

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20
Q

examples of progressive tax (3)

A

-capital gains
-rental earnings
-estate tax

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21
Q

a progressive tax system increases in ____; it does ____ charge the same rate of tax for all earnings

A

states; not

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22
Q

a ___ ____ is a tax in which everyone pays the same rate

A

proportional tax

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23
Q

regressive tax: tax burden ___ and income ___

A

decreases, increases

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24
Q

amount of tax paid by person, company, or country

A

tax burden

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25
Q

tax burden is measured as a ____ of total income in that period

A

portion

26
Q

tax burden examples

A

-sales tax
-gasoline tax
-flat income tax

27
Q

results of regressive tax

A

takes a higher percentage of income from low-income earners than from middle + high-income earners

28
Q

selfish + excessive desire for more of something than is needed

A

greed

29
Q

Reasons why in 2015, 62% of the heads of poor families didn’t work

A

-health problems
-lack of skills/jobs
-lack of child care

30
Q

average income of homeless families

A

$475 a month

31
Q

availability of cheap apartments has gone _____, means poor people have _____ money for other needs

A

more, less

32
Q

554,000 people are homeless on any given night, 1.6 million at some point in the year (T/F?)

A

True

33
Q

____ of poor kids don’t graduate high school

A

30%

34
Q

poor students are _____ likely to socialize because they have to work _____

A

less, more

35
Q

society’s focus on street crime rather than ____ and _____ leads to poor people getting arrested more

A

corruption, fraud

36
Q

The poor suffers from

A

-being more dependent on public defenders (losing more court cases)
-job discrimination (people convicted of felonies are less likely to get hired)

37
Q

____ of people making $100,000 vote

A

80%

38
Q

____ of people making less than $40,0000 vote

A

50%

39
Q

age range of someone most likely to be poor

A

kids and elderly (they can’t work)

40
Q

ethnicity of someone most likely to be poor

A

blacks and white hispanics

41
Q

gender of someone most likely to be poor

A

women

42
Q

family pattern of someone most likely to be poor

A

single mother as head of household

43
Q

regions of someone most likely to be poor

A

the west, but mostly the US south

44
Q

food insecurity is the lack of access to ____ ____ that affects 34 million people

A

nutritious

45
Q

stress from struggling to make ends meet leads to substance abuse of _____,____, and _____

A

drugs, alcoholism, tobacco

46
Q

link between income and health (5)

A

-food insecurity
-substance abuse
-lack of health insurance
-infant mortality rate 2x higher
-poor die soon because of sickness, accidents, violence

47
Q

who is most likely to be wealthy

A

-older people
-men
-married couples
-non hispanic whites

48
Q

the poor definition

A

a group or person living on wages less than the federal poverty line

49
Q

poverty line

A

line made by the US census bureau

50
Q

poverty line is defined by

A

healthy meal

51
Q

increase in prices and decrease in purchasing value of money

A

inflation

52
Q

deep poverty rate of black people in louisiana

A

13.3%

53
Q

deep poverty rate of white people in louisiana

A

5.9%

54
Q

Louisiana’s rank in disconnected youth

A

49/51

55
Q

people 18-24 that have a high school diploma but don’t go to work or school

A

disconnected youth

56
Q

louisiana’s rank in income inequality ratio

A

49/51

57
Q

the income of the top 20% richest divided by the income of the bottom 20%

A

income inequality ratio

58
Q

CEO compensation grew ____ since 1978, but the average worker compensation grew ___

A

940%, 12%

59
Q

____ of LA live in poverty, ___ is the national average

A

19%, 11%

60
Q

_____ of kids in LA are in poverty, ___ is the national average

A

27.8%, 16%