If a country finds that its Lorenz curve is moving further away from the diagonal, this means its income is becoming more unevenly distributed over time
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Compare the consumer surplus, producer surplus, and deadweight loss that arise from average cost pricing with those that arise from profit-maximization pricing and marginal cost pricing
What will be an ideal response?
The Fed's use of the ________ as an operating target in the 1970s resulted in ________ monetary policy
A) federal funds rate; countercyclical B) federal funds rate; procyclical C) M1 money supply; countercyclical D) M1 money supply; procyclical
Many ecologists argue that several species of whales are close to extinction. If this is TRUE, the reason is
A) inadequate enforcement of international laws. B) whales are a type of common property. C) the marginal benefit of hunting and killing a whale is greater than zero. D) whale-killing technology is too productive.
There are a number of "trade-offs" in economics. The production possibilities curve depicts the trade-off between producing one set of goods and another, such as consumption and capital goods. The trade-off between inflation and unemployment is yet another and is depicted by the
a. Laffer curve b. aggregate supply curve c. Phillips curve d. aggregate demand curve e. Keynesian curve