week 4 v2 Flashcards
what is social class?
income and wealth
what is income?
amount of money you earn from employment or investments
what is wealth?
total amount of money you have
what is ascribed status?
position you were born into or that you take on involuntarily later in life
what is achieved status?
position you gain through your achievements, abilities, or efforts
what happens when race is added to the mix of the gap between the rich and poor?
is it more pronounced and white families accumulate much more wealth than Black and Hispanic families
in effect of gender in economics, what is the difference in men and women?
men make more than women even when they attain the same level of education
in effect of race in economics, what is the difference in Black/Hispanic vs White/Asian?
Black/Hispanic almost always make les than White/Asian even when they have the same level of education
talk to me about global inequality?
as drastic as the inequality is in the US, its nothing compared to inequality in the global context. E.G: words 8 richest men have the same amount of wealth as the bottom 50% of worlds population
characteristics of the poverty population: household type?
those in households headed by single mothers are more likely to be poor than in married-couple or single-father families
characteristics of the poverty population: education
in US, there is a high rate of poverty for adults who have not completed high school
characteristics of the poverty population: paid work
in US, ones with no earnings are more likely to be poor than are those with earnings in the bottom third of distribution
what can you say about disability status in the poverty population?
for people aged 18 to 64 with a disability, 202 poverty rate was 25%, more than 3 million people living in poverty
what can you say about race in poverty population?
poverty rate approx 2 times higher for African-American, Hispanic, and native American people than it is for white asian-american people
what region has the highest and lowest poverty rate?
highest: south
lowest: northeast
what is the % of poverty in high-poverty neighborhoods?
at least 40%
in 2020, how many children lived inn poverty?
11.6 million (under 18 yrs of age)
how many individuals can be categorized as working poor?
10.5 million individuals
why are many poor people at risk of homelessness?
unaffordable housing
