Based on the graphic showing the Lorenz Curve, if income distribution fell on the line of perfect income equality, what percentage of total income would the first 40 percent of households receive?
a. 3.8
b. 9.2
c. 13.0
d. 40.0
d. 40.0
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A movement along the demand curve for toothpaste would be caused by
A) a change in population. B) a change in the price of toothbrushes. C) a change in consumer income. D) a change in the price of toothpaste.
Real income and money income are the same concept
Indicate whether the statement is true or false
A reduction in personal income taxes increases Aggregate Demand through
a. an increase in investment spending. b. an increase in national savings. c. an increase in private savings. d. an increase in personal consumption.
Dramatic reductions in costs of producing computers in the 1980s and equally dramatic increases in the demand for computers result in
A. increases in the quantity and price for computers. B. increases in the quantity of computers and reductions in the price of computers. C. decreases in the price and quantity of computers. D. decreases in the quantity of computers and increases in the price of computers.