Over the past decade, the incomes of the top 1 percent have increased while the incomes of the middle class declined. These changes mean that the Lorenz curve moved ________ the 45 degree line and the Gini ratio has ________
A) closer to; decreased
B) closer to; increased
C) further away from; decreased
D) further away from; increased
D
You might also like to view...
If the interest rate is 5 percent, what is the present value of $100 that will be received 3 years from now?
A) $90.70 B) $86.38 C) $115.00 D) $13.62
What is human capital?
A. Immigrant labor B. Someone who operates heavy equipment C. Your professor's knowledge of the economy D. A car assembly line robot
When current production of goods and services in an economy is greater than planned aggregate expenditure, _____
a. inventories of goods and services will increase b. firms will increase production to replenish depleted inventories c. businesses and households will increase planned aggregate spending d. the price level will automatically rise to restore equilibrium in the economy e. leakages must equal planned injections
If a pizza maker pays $1 for tomatoes, $1 for cheese, $2 for sausage, and sells the pizza made with these ingredients for $7, then each pizza sold contributes how much to GDP?
A. $7 B. $3 C. $4 D. $11