8:15 Back Ill 5G Exam One - Spring 2024.docm O Switch To Light Mode III. On the startling statistics and economic predicaments of Black people in USA Black people continue to have the highest poverty rate, the highest unemployment rate and the lowest income and wealth than other racial groups since these statistics started to be published. What you need to do: 1. Using your course knowledge, chapters 5 and 6 in particular, provide thoughtful and proficient analysis explicating whether Black people are poor because they do not work (or work less) or they do not work because they are poor? (15 points) IV. On the implications of macroeconomics Why is structural unemployment a more difficult problem for the economy and individual workers than other types of unemployment? Your analysis must be to the point and complete. (10 points) 2. Use your knowledge of interaction between skills, hiring preferences, and the impact of macroeconomic conditions to explain why the poor work substantially less than the non-poor. Your analysis must be sound, insightful, and comprehensive. (10 points) v. Development of your own learning 1. Thoughtfully analyze and evaluate the process of development of your own learning in this course. (5 Points) 4 5 000 000 Dashboard Calendar To Do Notifications Inbox 8:15 Ill 5G Back Exam One - Spring 2024.docm ◆ Switch To Light Mode A Hat Ju metu to to 1. Provide a succinctly clear definition of income. (5 points) 2. Clearly explain what the chart illustrates (5 points) 3. Clearly and thoroughly explain the real median income disparities among the racial/ethnic groups as depicted by the chart from 1967 to 2017. (10 points) 4. Clearly and thoroughly explain if the trend of the income disparities among the racial/ethnic groups shows improvement, deterioration, or stagnation. (10 points) 5. Based on your knowledge of the real household income by racialized ethnic groups, are you optimistic or pessimistic about a possibility of diminishing income disparity gaps in the future? Why or why not. Your analysis must be succinctly clear, insightful, and thoughtful. (10 points) III. On the startling statistics and economic predicaments of Black people in USA Black people continue to have the highest poverty rate, the highest unemployment rate and the lowest income and wealth than other racial groups since these statistics started to be published. What you need to do: 1. Using your course knowledge, chapters 5 and 6 in particular, provide thoughtful and proficient analysis explicating whether Black people are poor because they do not work (or work less) or they do not work because they are poor? (15 points) LO 4 000 000 Dashboard Calendar To Do Notifications Inbox 8:15 Ill 5G Back Exam One - Spring 2024.docm Switch To Light Mode Economics of the Black Community: AFRIC 106-125 EXAM ONE 1. On poverty 1. The United States is the richest country in the world in terms of economics, superior technology, excellent higher education, health care system, etc. However, between 11 percent and 15 percent of its population continues to endure the misfortune of absolute poverty. What you need to do: a. Using your knowledge of basic principles of the liberal perspective on the role of market and on the role of government, explain how to solve the problem of absolute poverty in the USA. (10 points) b. Using your knowledge of basic principles of the conservative perspective on the role of market and on the role of government, explain how to solve the problem of absolute poverty in the USA. (10 points). Make sure that your analyses are insightful and complete both in (a) & (b). II. On Racial gaps in real median household income Figure 1. Real Median Household Income by Race and Hispanic Origin: 1967 to 2017 2017 dollars 90,000 80,000 70,000 60,000 White, not Hispanic- 50,000 All races 40,000 Hispanic (any race) 30,000 Black 20,000 10,000 0 1959 Asian. 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Recession 2017 $81,331 $68,145 $61,372 $50,486 $40,258 Note: The data for 2013 and beyond reflect the implementation of the redesigned income questions. The data points are placed at the midpoints of the respective years. Median household income data are not available prior to 1967. For information on recessions, see Appendix A. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see <www2.census.gov/programs-surveys/cps/techdocs/cpsmar18.pdf>. Source: U.S. Census Bureau, Current Population Survey, 1968 to 2018 Annual Social and Economic Supplements. 4 LO 5 000 000 Dashboard Calendar To Do Notifications Inbox