As a tool that is used to measure inequality in the distribution of income, the Lorenz curve graphs
A) the cumulative percentage of income against the cumulative percentage of households.
B) the percentage of total income received by each given percentage of households.
C) the mean income, median income, and mode income against the percentage of households.
D) the mean income received by households over time.
A
You might also like to view...
Kaitlyn and Larissa have formed a dog bathing and grooming business business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. The opportunity cost of grooming the third dog in a day is bathing ________ dog(s)
A) 3 B) 4 C) 5 D) 18
Refer to Figure 16-5. Suppose the firm represented in the diagram decides to practice perfect price discrimination. What is the profit-maximizing quantity?
A) 320 units B) 480 units C) 560 units D) 640 units
By the mid-nineteenth century,
(a) indentured servitude disappeared in the U.S. (b) slavery was disappearing. (c) more and more immigrants were drawn into the production of agricultural goods on large plantations. (d) all of the above were true.
New growth theorists believe that increased economic growth is primarily driven by: a. higher level of savings
b. higher level of capital investments. c. increased foreign investment. d. technological innovation and ideas.