Class and Wealth: Exploring the Interplay of Social Class and Economic Resources

Question 1

Which of the following is NOT a way in which class affects access to economic opportunities?

Accepted Answer

Residence in a desirable neighborhood

Answer

Limited access to higher education

Answer

Fewer social connections

Answer

Discrimination based on cultural factors

Question 2

What is a key characteristic of wealth inequality?

Accepted Answer

It is concentrated among a small percentage of the population.

Answer

It remains relatively stable over time.

Answer

It has significantly decreased in recent decades.

Answer

It is equally distributed across all income groups.

Question 3

What is the concept of 'cultural capital'?

Accepted Answer

It refers to knowledge, skills, and dispositions that are socially valued and transmitted through family, education, and social networks.

Answer

It is a type of capital that is only possessed by wealthy individuals.

Answer

It has no impact on educational and occupational attainment.

Answer

It is unrelated to a person's social class background.

Question 4

What is the main argument put forward by Marxist theories of class?

Accepted Answer

Class is the most important determinant of life chances and opportunities.

Answer

Class is primarily defined by a person's occupation.

Answer

Class is a fluid and constantly changing category.

Answer

Class divisions will inevitably disappear under capitalism.

Question 5

How does the concept of 'positional goods' relate to class and inequality?

Accepted Answer

Consumption of positional goods contributes to the creation of class distinctions.

Answer

Positional goods only benefit the wealthy.

Answer

Positional goods have no impact on social stratification.

Answer

Consumption of positional goods is unrelated to income or wealth.

Question 6

What is the relationship between class, wealth, and power?

Accepted Answer

Class, wealth, and power are interconnected and mutually reinforcing.

Answer

Class and wealth are independent of power.

Answer

Class and wealth always lead to power.

Answer

Power is solely determined by political or military authority.

Question 7

Which of the following is not typically considered a measure of wealth?

Accepted Answer

Power

Answer

Income

Answer

Savings

Answer

Assets

Question 8

Which of the following is a potential consequence of significant wealth inequality?

Accepted Answer

Reduced economic growth

Answer

Increased social mobility

Answer

Improved healthcare outcomes

Answer

Greater political stability

Question 9

The concept of 'structural inequality' refers to:

Accepted Answer

Inequality that is embedded in social institutions and practices

Answer

Inequality that is caused by individual choices

Answer

Inequality that is only present in certain societies

Answer

Inequality that affects only certain groups of people

Question 10

What is the 'patrimonial paradox'?

Accepted Answer

The fact that inheritance plays a major role in wealth accumulation, even in societies with high social mobility

Answer

The belief that all wealth is earned

Answer

The fear that wealth will eventually be redistributed

Answer

The misconception that wealth is always inherited

Question 11

What is 'cultural capital'?

Accepted Answer

Valued knowledge, skills, and abilities within a society

Answer

Financial assets used to acquire cultural goods

Answer

Social networks based on cultural background

Answer

Skills developed through education and training

Question 12

What is the 'Matthew effect' in relation to class and wealth?

Accepted Answer

The tendency for the wealthy to accumulate more wealth over time

Answer

The tendency for the poor to accumulate more debt over time

Answer

The belief that the wealthy deserve their wealth more than the poor

Answer

The idea that wealth is a finite resource

Question 13

According to the National Statistics Socio-economic Classification (NS-SEC), which social class is characterized by occupations such as doctors, lawyers, and university professors?

Accepted Answer

Higher managerial and professional occupations

Answer

Lower managerial and professional occupations

Answer

Small employers and own account workers

Answer

Lower supervisory and technical occupations

Question 14

The term 'financial capital' refers to:

Accepted Answer

Financial resources and assets

Answer

Social connections and networks

Answer

Educational qualifications

Answer

Cultural knowledge and expertise

Question 15

Which of the following policies is NOT designed to reduce income inequality?

Accepted Answer

Flat tax

Answer

Minimum wage

Answer

Universal basic income

Answer

Inheritance tax

Question 16

The 'glass ceiling' is a term used to describe:

Accepted Answer

The barriers faced by women and minorities in reaching top positions in organizations

Answer

The lack of opportunities for the working class to move out of poverty

Answer

The difficulty that immigrants have in integrating into society

Answer

The gap between the rich and the poor

Question 17

Which of the following is NOT a key dimension of wealth inequality?

Accepted Answer

Access to healthcare

Answer

Assets

Answer

Savings

Answer

Income

Question 18

Which social class is typically characterized by the highest levels of wealth and economic resources?

Accepted Answer

Upper class

Answer

Underclass

Answer

Middle class

Answer

Working class

Question 19

How does class shape access to income?

Accepted Answer

It influences job opportunities, earnings, and benefits.

Answer

It determines the type of housing individuals live in.

Answer

It affects access to healthcare and education.

Question 20

What is the concept of 'intergenerational wealth transmission'?

Accepted Answer

The passing down of wealth and economic advantages from one generation to the next.

Answer

The redistribution of wealth from the wealthy to the poor.

Answer

The accumulation of wealth by individuals within their lifetime.

Question 21

Which of the following policies has been proposed to reduce wealth inequality and promote economic mobility?

Accepted Answer

Progressive taxation

Answer

Regressive taxation

Answer

Flat tax

Answer

Abolishing inheritance taxes

Question 22

How does wealth inequality affect access to assets, such as property and financial investments?

Accepted Answer

It limits the ability of individuals and households to acquire and accumulate assets, thereby perpetuating economic disparities.

Answer

It has no significant impact on access to assets.

Question 23

What is the potential role of the state or government in addressing wealth inequality?

Accepted Answer

Implementing policies to redistribute wealth through taxation, social welfare programs, and regulations aimed at promoting economic equity and opportunity.

Answer

The state should focus solely on economic growth, leaving wealth distribution to market forces.

Answer

The state has no obligation to intervene in wealth distribution.

Question 24

What is a limitation of using income as a measure of wealth?

Accepted Answer

Income does not capture all forms of wealth, such as assets, savings, and investments.

Answer

Income is a more reliable measure than wealth.

Answer

Income is easier to collect and analyze than wealth.