A Gini coefficient of zero indicates:
A. there is no income being earned.
B. Computed correctly the Gini coefficient only has values greater than zero.
C. perfect inequality.
D. perfect equality.
D. perfect equality.
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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. $4 B. $7 C. $11 D. $3
If a government raises its expenditures by $50 billion and at the same time levies a lump-sum tax of $50 billion, the net effect on the economy will be to
A. increase real GDP by $50 billion. B. increase real GDP by more than $50 billion. C. make no change in real GDP. D. increase real GDP by less than $50 billion.
Baumol and Blinder argue that oligopolies are interdependent firms. What do they mean by this? Give three examples of the types of interdependence which might occur
If a $50 billion initial increase in spending leads to a $250 billion change in real GDP, how big is the multiplier?
What will be an ideal response?