The Economics of Inequality: Undoing Policy Mistakes

The Economics of Inequality: Undoing Policy Mistakes

Assessment

Interactive Video

Business, Social Studies, Life Skills

University

Hard

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The video discusses the economic impact of social inequality, emphasizing the need to acknowledge and address racial disparities. It explores the role of education in reducing inequality but highlights that education alone is insufficient. The Federal Reserve's policies on employment and inflation are examined, with a focus on wage growth and unemployment disparities. The video concludes by discussing the importance of both monetary and fiscal policies in achieving economic recovery and addressing social inequality.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in addressing economic disparities according to the transcript?

Implementing new policies

Acknowledging the existing disparities

Increasing taxes

Providing economic advantages to all

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why does the speaker believe education alone cannot resolve racial economic disparities?

Because education levels have not increased

Due to lack of funding for education

Due to persistent wage gaps and unemployment rates

Because education is not accessible to all

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the Federal Reserve's mandates mentioned in the transcript?

Full employment

Reducing taxes

Decreasing imports

Increasing exports

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should the Federal Reserve consider when deciding to raise the federal funds rate?

Political pressures

Wage growth and unemployment across communities

Only the NAIRU

Global economic trends

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of quantitative easing according to the transcript?

To decrease inflation

To stimulate economic growth and recovery

To increase interest rates

To reduce government spending

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is necessary for fiscal and monetary policy to effectively address economic disparities?

They must work independently

They must work together

They must focus solely on inflation

They must ignore wage growth

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a significant contributor to the longest economic expansion on record?

The Fed's monetary policy of holding interest rates low

High interest rates

Decreased unemployment benefits

Increased government spending