A Lorenz curve that becomes less bowed out implies:
A. no change in income distribution.
B. a change in income distribution toward more equality.
C. an increase in poverty.
D. a change in income distribution toward more inequality.
Answer: B
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The real exchange rate:
A. expresses the value of goods in one country in terms of the same goods in another country. B. is the nominal exchange rate adjusted for purchasing power parity. C. uses the price level in each country to convert the exchange rate into a value that is in "real" terms. D. All of these statements are true.
Ceteris paribus, in which of the following cases would we expect economic profits to be greatest? a. an unregulated monopolist who is able to price discriminate
b. an unregulated monopolist who is unable to price discriminate. c. a regulated monopolist required to charge a price no greater than marginal cost. d. a regulated monopolist required to charge a price no greater than average cost.
In the United States today, money consists of
What will be an ideal response?
Aggregate expenditure equals
What will be an ideal response?