Mulit Choice Answers (1 Viewer)

macca202

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Originally posted by Ronnie


I eliminated C because by getting rid of means tests for social security payments, it means anyone can go on the dole, this would in fact increase inequality

you didn't explain it, you just said "in fact" i need a reason!
 

Ronnie

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....... it simply means

you are earning 500 dollars and I am earning 2000 dollars
the dole is 300 dollars

we both can apply for the dole and get it! because there is no test required to make sure you actually need the money, so in effect it would just be an accross the board increase of 300 dollars


Kapish?
 

JeffyboyJJ

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Question 14.
A means test for social security means they test your rate of income to see what level you are earning. Once tested they check whether you are above or below there threshold. If you are above the threshold you dont qualify for welfare and and if you are below the threshold you do qualify for welfare.
This is in place to make sure only people on low incomes receive welfare. If this is removed this will increase income inequality because rich ppl could get welfare as well and therefore this answer is wrong in my opinion.

(A) is the most right answer as a safety net system introduces minimum wage standards through award wages. This then means even the workers payed the least are not determined by the forces supply and demand, but are guranteed a minimum wage and so this reduces in come inequality.

This is what I put for my answer and what I thought and if I am wrong oh well cant change it now:) hope you all did well!
 

AcCeSs-DeNieD

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yeah I agree that the answer for 14 is a!
I was about to post the same logic as ronnie but he beat me to it I believe =P

and according to the m/c answers I got 20/20
wooohoo!

lets hope my essay and short answers are correct as well =D
 

macca202

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Originally posted by Ronnie
....... it simply means

you are earning 500 dollars and I am earning 2000 dollars
the dole is 300 dollars

we both can apply for the dole and get it! because there is no test required to make sure you actually need the money, so in effect it would just be an accross the board increase of 300 dollars


Kapish?
no kapish, what point are you making about a $300 across the board increase? That actually reduces the value of the income gap as a % of total income, eg the income gap remains at $200 which for you at $2000 is 10%, but if you earn $2300 it is 8.69565%..
or look at this way. if the dole is $100,000 , then we are both recieving virtually the same income, i know this is a bit extreme but when think about it, who is to say how much difference it make? i dont know im confused, wats 1 mark anyway?

timmi had a goodish answer, although is the question refering to an "abuse" as timi says, as somthing that creates inequality? i duno, the question does not specify what aspect of inequality it is talking about
 

cainen

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You got it right anyway macca..it's a and can only be a. A safety net wage system is in place to protect those with limited bargaining powers when enterprise bargaining so that they do not get exploited by employers. Say some big union is able to negotiate a $15 per day wage, but the individual guy is only able to negotiate $5 and there is a safety net (minimum) wage of $10 per day then the individual will get $10 per day rather than $5 per day thus reducing inequalities in income.
 
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the great one

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question 11

why is q11 A? i dont think it could be B due to the fact that incresed efficiency wouldn't decrease supply it would only move the price down and technically A is right in that if the price went down so would supply.
 

Ronnie

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Originally posted by macca202


no kapish, what point are you making about a $300 across the board increase? That actually reduces the value of the income gap as a % of total income, eg the income gap remains at $200 which for you at $2000 is 10%, but if you earn $2300 it is 8.69565%..
or look at this way. if the dole is $100,000 , then we are both recieving virtually the same income, i know this is a bit extreme but when think about it, who is to say how much difference it make? i dont know im confused, wats 1 mark anyway?

timmi had a goodish answer, although is the question refering to an "abuse" as timi says, as somthing that creates inequality? i duno, the question does not specify what aspect of inequality it is talking about

Dude, you are thinking too bloody hypothetically and not realistically, the DOLE is only meant to cover your basic needs and would never exceed u'r wage

And as I said multiple choice is choosing the best answer

which one out of A and C is better? you think about it
 

timmii

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Re: question 11

Originally posted by the great one
why is q11 A? i dont think it could be B due to the fact that incresed efficiency wouldn't decrease supply it would only move the price down and technically A is right in that if the price went down so would supply.
The diagram showed an increase in supply, and a subsequent decrease in the price of cars. The question is asking what instigated that increase in supply. Greater technical efficiency (i.e answer B), would allow more cars to be produced at lower production costs, hence increasing supply.
 

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