The curve that indicates how far actual income distribution differs from a perfectly equal income distribution is called the
a. Lorenz curve.
b. Garibaldi curve.
c. GDP.
d. Herfindahl Index curve.
a. Lorenz curve.
You might also like to view...
In the above figure, how many bushels of corn are produced at point "a"?
A. 0 B. 2,500 C. 10,000 D. 1,000
In which countries are incomes distributed most unequally and least unequally?
What will be an ideal response?
Figure 17-1
Which of the following is true about the economy depicted in Figure 17-1?
a.
Tax incentives are being used to stimulate aggregate supply.
b.
Policy makers believe the costs of unemployment are higher than the costs of inflation.
c.
Contractionary monetary policy is being enacted to fight inflation.
d.
Prices are rising but real GDP is falling.
To have an ideal voting system in place, if a group is voting on option X versus option Y, this decision should not depend on any information or preference about another unconnected option, Z. In other words, which of the following criteria must be present in the voting system?
A. Unanimity B. No dictator C. Transitivity D. Independence of irrelevant alternatives