If 50 percent of the population receives 20 percent of the total income, it can be represented on the Lorenz curve by:
a. a point below the line of income equality.
b. a line below the line of income equality.
c. a point on the line of income equality.
d. a line intersecting the line of income equality from below.
e. a point above the line of income equality.
a
You might also like to view...
Which of the following is probably producing positive externalities?
A) A citizen who becomes well-informed about community issues B) A homeowner who maintains a beautiful lawn C) A person with an engaging smile D) All of the above. E) None of the above.
The colony of Georgia was established in 1732 . During the colony's early years,:
a. each arriving settler received a 50-acre farm. b. cotton plantations were the primary source of income. c. the slave population assisted free colonists in defending the Georgia-Florida border. d. the slave population exceeded the free population. e. All of the above.
During the colonial period, commodities that could only be exported legally to Britain were known as _______
a. Foxwell goods. b. tariff goods. c. scot-free goods. d. enumerated goods.
If fiscal policy makers increase aggregate demand in an attempt to decrease the unemployment rate below the natural rate of unemployment, then: a. the potential GDP will decrease
b. the potential GDP will increase. c. the only lasting impact of the policy is a higher price level. d. the only lasting impact of the policy is higher real GDP. e. the only lasting impact of the policy is lower real GDP.