In a Lorenz curve, perfect income equality is represented by
A. a horizontal line.
B. a 45-degree line originating from the origin.
C. a rectangular hyperbola.
D. a vertical line.
Answer: B
You might also like to view...
If the 4 largest cereal companies' total sales are $19 billion, and the industry's total sales are $55 billion then the Four-Firm Concentration Ratio is
A. 34.55%. B. 2.89%. C. 28.95%. D. 0.35%.
In a certain textile firm, labor is the only short term variable input. The manager notices that the marginal product of labor is the same for each unit of labor, which implies that
A) the average product of labor is always greater that the marginal product of labor B) the average product of labor is always equal to the marginal product of labor C) the average product of labor is always less than the marginal product of labor D) as more labor is used, the average product of labor falls E) there is no unambiguous relationship between labor's marginal and average products.
Does economic growth eliminate scarcity?
Suppose the population of Toon Town is 100 people and the working-age population is 70. If 10 of these people are unemployed, the unemployment rate in Toon Town is
What will be an ideal response?