Which of the following summarizes the information provided by a Lorenz curve?
A) the Gini coefficient
B) the slope (the rise divided by the run) of the Lorenz curve at a particular point on the curve
C) the income distribution ratio
D) the Lorenz coefficient
A
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In principle, can a monopolist hold its monopoly power in the long run? Explain
What will be an ideal response?
Which of the following is not a criticism of flexible exchange rates?
a. All of the following. b. They are volatile, which increases risks for importers and exporters. c. They could affect employment and increase demand for trade restrictions. d. They do not allow for discretionary monetary policy. e. They allow central banks to follow expansionary monetary policies.
When marginal revenue product of an input is less than its price, the producers should use less of the input
a. True b. False Indicate whether the statement is true or false
To persist, a monopoly must:
a. be regulated. b. set its price to eliminate the deadweight loss. c. be a natural monopoly. d. be protected by a barrier against the entry of other firms.