If 80 percent of the population receives 75 percent of the income,
a. the richest quintile receives 20 percent of the income.
b. the Lorenz curve is the diagonal.
c. income is not perfectly evenly distributed.
d. the poorest quintile receives more than 20 percent of income.
e. people in the middle quintile have the highest incomes.
c
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Along a linear demand curve, as the price increases from zero,
a. demand decreases b. demand increases c. quantity demanded increases d. total revenue first increases but eventually decreases e. total revenue first decreases but eventually increases
It is against the law in the United States for one person to hold positions on more than one board of directors at a time
a. True b. False Indicate whether the statement is true or false
A profit-maximizing firm that is operating in the short run will sell an additional unit of output as long as: a. as doing so reduces the firm's per-unit costs
b. doing so reduces the firm's marginal costs. c. doing so adds more to revenue than it adds to cost. d. there is additional plant capacity with which to produce.
Identify the correct statement from the following
a. Good faith bargaining implies the seller will never decrease the price for a particular buyer. b. Distrust is the norm when electricity producers negotiate a deal to exchange power by misrepresenting their costs. c. Poker is the exception where norms do not come into play. d. Good faith bargaining norms vary among different types of transactions.