Extra Credit: Numbers Game

2% towards your final grade. 

Visit each video linked below and answer the following questions. Extra credit will be forfeit if the entire prompt is not answered.

Numbers Game: How is the middle class doing?

What group should we measure in order to discover how the middle class is doing in America?

Does it make sense to exclude the elderly when trying to measure the progress of the middle class over time?

Why does it matter if the composition of the middle class is changing when trying to assess the performance of the economy?

Numbers Game: The paradox of household income

How does the change in the marriage rate for people with low levels of education relative to people with high levels of education affect measured economic growth for the middle class?

If the poverty rate didn't change very much when there was economic growth in the recent past, does that mean it will not change much if there is growth in the future?

Why does Roberts raise the possibility that lower marriage rates might be caused by the poor performance of the economy?

If family structure had stayed constant, poverty would have fallen by 25% in the example in the video. But it actually fell by only 4%. Is one of these measures right and the other wrong? How would you decide?

The Numbers Game: Do The Rich Get All The Gains?

How can we ensure that the same people are being followed over time to prevent distorted data?

Why isn’t panel data used more frequently to report income and mobility statistics?

The Numbers Game: Let's Party Like It's 1973!

Would you take the deal and go back to 1973 if it meant you could pay 1973 prices while only enjoying 1973 goods and services?

Why might the poorest Americans prefer living in 1973. Do you think many would? Why or why not?

What are some examples of improvements to quality of life that haven’t been measured well by prices alone?

Are there any goods or services where you think quality has gone down, the opposite effect discussed in the video? Do you think this problem is common or rare?

Do you think people in the past were more or less happy than people today? Would most people in 1973 be excited or sad to live in today’s world with today’s goods and services?

The Challenge of Inequality | The Numbers Game

What are the realities versus the myths of poverty?

How can we understand the root causes of poverty?