PLS 301 Great Divergence Quiz Flashcards
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| 13220335231 | Kuznetsk Curve 1950 | graphs the hypothesis that as an economy develops, market forces increase first then the economic inequality decreases | 0 | |
| 13220342898 | Per Capita Income | Measures the average income earned per person in a certain area within a year. Average total income divided by population | 1 | |
| 13220354713 | The Great Compression | 1932-1979 wealth and income distribution between the rich and poor became much smaller | 2 | |
| 13220364326 | The Great Divergence | 1980-2007 the median income fell even though productivity increased and 2/3 of the nations income went to the top 1% | 3 | |
| 13220374241 | Gini Coefficient | 1912 the most commonly used measurement of inequality that measures the income and wealth distrubution | 4 | |
| 13220389244 | Absolute Mobility | Measures how much living standards have increased based on how many people have incomes higher than their parents | 5 | |
| 13220397243 | Relative Mobility | how likely children are to move from their parents' place in the social hierarchy | 6 | |
| 13220401529 | intergenerational mobility | changes in the social position of children relative to their parents | 7 | |
| 13220409205 | Panel Study of Income Dynamics (PSID) | A longitudinal panel survey of American families to measure economic, social, and health factors over the life course of families for multiple generations. Conducted by the research center at U of M | 8 | |
| 13220439125 | Quiet Revolution | A period of intense social, political, and economic change in Quebec. Took out religion from government and developed state-run welfare | 9 | |
| 13220459333 | Assortative Mating | Individuals are more likely to marry someone with similar phenotypes such as wealth, income, race, etc. | 10 | |
| 13220466042 | Kudoka | Job polarization. Skilled jobs are being wiped out by automation and replaced with service jobs that computers can't do | 11 | |
| 13220475316 | GI Bill 1944 | Provided for college or vocational training for returning WWII veterans as well as one year of unemployment compensation. Also provided for loans for returning veterans to buy homes and start businesses. | 12 | |
| 13220481554 | National Industry Recovery Act 1933 | Labor and consumer law for the resident to regulate industry for fair wages and prices that would stimulate the economy | 13 | |
| 13220491832 | Wagner Act 1935 | officially "National Labor Relations Act"; protected the rights of most workers in the private sector to organize labor unions, to engage in collective bargaining, and to take part in strikes and other forms of concerted activity in support of their demands | 14 | |
| 13220501317 | Treaty of Detroit 1950 | A 5 year contracted negotiated by the trade union between the United Auto Workers (UAW) and GM | 15 | |
| 13220508313 | Taft-Hartley Act (1946) | It banned the use of the closed-shop, forced unions to wait 60 days before striking and forbade unions from contributing to political campaigns | 16 | |
| 13220516021 | Dodd-Frank Act 2010 | Expanded the Fed's regulatory authority over nondepository financial institutions signed by Obama | 17 | |
| 13220519231 | Consumer Financial Protection Bureau (CFPB) | A government agency within the Federal Reserve that oversees financial products and services to protect consumers | 18 | |
| 13220548199 | What does polling data tell us about Americas beliefs with social mobility? | 69% said that people get what they deserve as far as wages go although only 6% of Americans get rich throughout they're life time. Always think optimistically | 19 | |
| 13220565032 | Does race and gender affect the Great Divergence? | No over the past 3 decades the income gaps between races have not grown and even if they did it wouldn't be significant because African Americans only account for 13% of the entire US population | 20 | |
| 13220578529 | How did women avoid the Great Divergence? | Women make up about half the population so if they played a role it would be tremendous but they did not because the wage gap between men and women shrank 40% | 21 | |
| 13220594677 | What is known about service-sector offshoring on jobs in the US? | Service-sector offshoring would create equality but only if affluent parties jobs are overly threatened | 22 | |
| 13220605437 | How has labor union participated evolved over the 20th century? | Union membership peaked in 1979 with 21 million members although now it is only 15 million which represents 12% of the population | 23 | |
| 13220617936 | How much did union membership declination affect the Great Divergence? | By 20% | 24 |