The Lorenz curve shows the distribution of
A. wealth.
B. income.
C. poverty.
D. jobs.
B. income.
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In a situation in which internal costs differ from social costs, we say that there exists a(n)
A) welfare loss. B) welfare benefit. C) internality. D) externality.
In the supply and demand model, a subsidy granted to buyers is illustrated by
a. a downward shift in the demand curve, by the per unit amount of the subsidy. b. an upward shift in the demand curve, by the per unit amount of the subsidy. c. a downward shift in the supply curve, by the per unit amount of the subsidy. d. an upward shift in the supply curve, by the per unit amount of the subsidy.
.Greg, a U.S. citizen, works only in Canada. Where is the value that his labor contributes to put in national income accounting?
What will be an ideal response?
Reduction of government regulation is a stimulative aggregate supply policy.
Answer the following statement true (T) or false (F)