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Micro Economics Exercise 12 Chapter Twelve Concepts This exercise is mandatory. Feedback is detailed, meant to prepare you for the upcoming tests. To receive credit, reply to your best of your ability, using your own language, after you've looked at the outline and attempted the homework related to this chapter. The questions are geared toward comprehension, toward the \"Why" and "How\" of concepts, therefore they're relatively challenging. This is why the tests will become manageable, which is the goal. Please, do not submit blanks. Doing so precludes me from seeing the exact pitfalls preventing you from reaching the correct conclusions. I am here to help you, not judge you. 6. 7. What are the characteristics of working-age adults, living in poverty and working part time? Answer: The poverty rate for married couples in 2018 was 4.7%, but the poverty rate for single-parent families with no wife present was 12.7%, and for single-parent families with no husband present was 24.9%. Explain why this is the case. Answer: What percentage of American families were food insecure in 2018, and B) how many in millions is this? Answer: What percentage of food insecure families, in 2018, participated in any of the three largest federal food and nutrition assistance programs? B) Why don't all families participate? Answer: Why are children hardest hit by poverty12 million kids in the US and 1 billion worldwide, with probably larger numbers that go unreported? Answer: What's the difference between absolute and relative poverty? Answer: Is Welfare part of entitlement programs? Explain why or why not. Answer: 8. 10. 11. 12. How does Welfare work? Answer: How are Welfare, Guaranteed Income Level programs and Market Oriented programs different from one another? Answer: What's Negative Income taxes, and B) why are they considered the better alternative to Welfare? Answer: Give a quantitative exampEe on how Negative Income Taxes work? Answer: Explain the six factors that lead to income inequality