What does the Gini coefficient measure?
A. the correlation coefficient between income and education
B. the degree of inequality in an income distribution
C. the degree of tax incidence paid by poor workers
D. the covariance of income and education
E. the rate of growth of income inequality over time
Answer: B
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What relationship is shown by a supply curve?
What will be an ideal response?
Extreme global poverty is defined as ________
A) income of less than one dollar a day B) foreign debt in excess of 100% of GDP C) one percent of U.S. income D) one-fourth of U.S. income
When the market mechanism is allowed to operate freely, prices will determine
A. The mix of output to be produced, the resources to be used in the production process, and for whom the output is produced. B. Only for whom the output is produced and the mix of output to be produced. C. Only the resources to be used in the production process and for whom the output is produced. D. Only the mix of output to be produced and the resources to be used in the production process.
Which of the following is true of the simple spending multiplier?
What will be an ideal response?