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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 6-7.

Multiple Choice Questions

1. How many premature deaths did a study find could have been prevented in New York City from 2008 to 2012 if the city's minimum wage had been $15 an hour?
(a) 3,600.
(b) 6,900.
(c) 4,800.
(d) 5,500.

2. What was the top maginal tax rate in 1975?
(a) 25%.
(b) 45%.
(c) 50%.
(d) 70%.

3. In 2019, how much did the largest banks in America charge customer in overdraft fees?
(a) $5 million.
(b) $9.63 billion.
(c) $11 million.
(d) $11.68 blllion.

4. How much in market value did Walmart lose when it announced in 2015 that it planned to increase its starting wage to at least $9 an hour?
(a) $20 billion.
(b) $5 billion.
(c) $3.5 billion.
(d) $15 billion.

5. Growing up in a severely disadvantaged neighborhood was equivalent to missing how much school?
(a) 2 years.
(b) 6 months.
(c) 18 months.
(d) A year.

Short Answer Questions

1. According to the Government Accountabilty Office, how many American workers relied on Medicaid for health insurance?

2. What president once siad, "Taxes should hurt" (97)?

3. When Walmart announced raising the hourly wage to $15 in 2021, by what percent did their stock fall?

4. In 2020, what was the maximum amount one could receive if they claimed the Earned Income Tax Credit?

5. Which states had the fastest job growth during June and July 2021?

(see the answer key)

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