A(n) _____ provides guaranteed benefits for those who qualify under government transfer programs such as Social Security or Medicare.
a. entitlement program
b. excise tax
c. continuing resolution
d. biennial budget
e. employment benefits
QUESTION 2For the calculation of a Lorenz curve using quintiles, the:
a. first quintile contains the richest 50 percent of population.
b. first quintile contains the richest 20 percent of population.
c. first quintile contains the poorest 50 percent of population.
d. first quintile contains the poorest 20 percent of population.
e. last quintile contains the poorest 10 percent of population.
QUESTION 3Anne is an accountant who lost her job in the last recession and has given up looking for work after an unsuccessful job search. Which of the following is true in this case?
a. She is a discouraged worker.
b. She is underemployed.
c. This is an example of cyclical unemployment.
d. This is an example of seasonal unemployment.
e. She is overemployed.
QUESTION 4Which of the following is true of the federal budget process in the U.S.?
a. Congress must approve a budget with at least a two-thirds majority vote.
b. The federal budget must be balanced each year because the volume of international trade reduces if the government has a surplus or a deficit.
c. Most federal outlays are determined by existing laws.
d. Congress approves a budget that separates the capital budget and the operating budget.
e. Detailed budgeting allows the party in power to reward supporters.
QUESTION 5Discouraged workers comprise the percentage of those in the:
a. labor force who are employed and are seeking employment.
b. labor force who have chosen early retirement because they dislike their work.
c. adult population who want to be employed but have given up the search for a job.
d. labor force who are looking for a job but cannot find one.
e. adult population who are in the labor force.
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