The diagram that represents how income is distributed among members of a population is known as a(n):
a. indifference curve.
b. Laffer curve.
c. Edgeworth box.
d. Lorenz curve.
e. Phillips curve
d
You might also like to view...
In which of the following situations would it be the most difficult to keep the water in a river flowing?
A) as it passes from one city to another city in the same county B) as it passes from one county to another county in the same state C) as it passes from one state to another state in the same country D) as it passes from one country to another country
Among the following examples, the one that best illustrates a public good is a(n)
A. bike path around a city or town. B. laptop used by a student in a college or university. C. airline ticket bought by a vacationer. D. movie produced by a Hollywood company.
Evaluate this argument for a trade barrier: “The U.S. needs protection from cheap foreign labor.”
What will be an ideal response?
The change in real GDP resulting from an initial change in spending can be calculated by:
A. Dividing the multiplier by the initial change in spending B. Dividing the initial change in spending by the multiplier C. Multiplying the multiplier by the initial change in spending D. Adding the initial change in spending to the multiplier