QUESTIONS FOR REVIEW

1. Does the richest fifth of the U.S. population earn two, four, or ten times the income of the poorest fifth?
2. How does the extent of income inequality in the United States compare to that of other nations around the world?

3. What groups in the U.S. population are most likely to live in poverty?

4. When gauging the amount of inequality, why do transitory and life cycle variations in income cause difficulties?

5. How would a utilitarian, a liberal, and a libertarian determine how much income inequality is permissible?

6. What are the pros and cons of in-kind (rather than.cash) transfers to the poor?

7. Describe how antipoverty programs can discourage the poor from working. How might you reduce this  disincentive? What are the disadvantages with your proposed policy?

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