describe how a push for economic inequality might not have such effects.

Critical Thinking Questions

30. What goods and services would you include in an estimate of the basic necessities for a family of four?

31. If a family of three earned $20,000, would they be able to make ends meet given the official poverty

threshold?

32. Exercise 15.2 and Exercise 15.3 asked you to describe the labor-leisure tradeoff for Jonathon. Since, in the

first example, there is no monetary incentive for Jonathon to work, explain why he may choose to work

anyway. Explain what the opportunity costs of working and not working might be for Jonathon in each

example. Using your tables and graphs from Exercise 15.2 and Exercise 15.3, analyze how the government

welfare system affects Jonathan’s incentive to work.

33. Explain how you would create a government program that would give an incentive for labor to increase

hours and keep labor from falling into the poverty trap.
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