Which of the following observations would be valid if the Gini coefficient is equal to zero?
a. Perfect income inequality
b. Greater degree of income inequality
c. Lorenz curve overlaps the line of perfect income equality
d. Unequal distribution of income
c
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Corporate governance refers to the way in which a corporation is structured and the effect that structure has on the corporation's behavior
Indicate whether the statement is true or false
Refer to Figure 9-3. What is the value of the deadweight loss as a result of the quota?
A) $5.25 million B) $8 million C) $17.25 million D) $20 million
Goods with upward sloping demand curves are referred to as
A) luxury goods. B) substitute goods. C) Giffen goods. D) Marshall goods.
Giving presents on Christmas does NOT generate a deadweight loss if
A) all gift are money. B) everybody gets exactly want she wants. C) nobody can be made better off by returning the gift and purchasing a different one. D) All of the above.