Poverty and Economic Inequality (Economics)

Recall cards on poverty and economic inequality. Drawing the poverty line: how poverty is measured, Orshansky's original method, and U.S. poverty rates by group. The poverty trap: how declining benefits blunt the incentive to work. The safety net: TANF, the earned income tax credit, SNAP, Medicaid, WIC, and Supplemental Security Income. Measuring and explaining income inequality: quintiles, the Lorenz curve, household structure, education, and winner-take-all labor markets. Government policies to reduce inequality: redistribution, progressive taxes, the estate tax, ladders of opportunity, and the equality-output tradeoff.