$8.$ What is a monopsony? How does monopsony affect the equilibrium wage and employment levels? $9.$ How is the poverty rate calculated? What is the poverty line? What is the difference between poverty and income inequality? $10.$ How does the poverty trap discourage people from working? How can the effect of the poverty trap be reduced? $11.$ What is the safety net? Briefly explain the differences between TANF, the earned income tax credit, SNAP, and Medicaid. $12.$ What are some reasons why a certain degree of inequality of income would be expected in a market economy? Identify some public policies that can reduce the level of economic inequality.Describe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might not have such effects. $13.$ What are the most common ways for start$-$up firms to raise financial capital?Why can firms not just use their own profits for financial capital, with no need for outside investors? $14.$ Why are banks more willing to lend to well$-$established firms? Why are banks called financial intermediaries? $15.$ What is a bond? What does a share of stock represent? When do firms receive money from a stock sale in their firm and when do they not receive money? $16.$ Why should a financial investor care about diversification?