Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 20, Problem 3MCQ
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K
In recent years, as the gap between the rich and the poor has increased, the Lorenz curve has
O A. shifted away from the line of equality
OB. shifted closer to the line of equality
O c. not changed, but there has been a movement down along it
O D. not changed, but there has been a movement up along it
Ne
Which of these is true about the Lorenz curve?
a. allows us to rank all countries by the degree of poverty.
b. allows us to rank all countries by the degree of inequality.
c. is an incomplete measure of inequality.
d. is a measure of the wealth of a country.
As the Lorenz Curve gets closer to the line of absolute equality, the ________.
a. the higher is the degree of income equality
b. the lower is the degree of income inequality
c. the lower is the degree of income equality
d. the higher is the degree of income inequality
Chapter 20 Solutions
Foundations of Economics (8th Edition)
Ch. 20 - Prob. 1SPPACh. 20 - Prob. 2SPPACh. 20 - Prob. 3SPPACh. 20 - Prob. 4SPPACh. 20 - Prob. 5SPPACh. 20 - Prob. 6SPPACh. 20 - Prob. 7SPPACh. 20 - Prob. 8SPPACh. 20 - Prob. 9SPPACh. 20 - Prob. 1IAPA
Ch. 20 - Prob. 2IAPACh. 20 - Prob. 3IAPACh. 20 - Prob. 4IAPACh. 20 - Prob. 5IAPACh. 20 - Prob. 6IAPACh. 20 - Prob. 7IAPACh. 20 - Prob. 8IAPACh. 20 - Prob. 9IAPACh. 20 - Prob. 10IAPACh. 20 - Prob. 11IAPACh. 20 - Prob. 1MCQCh. 20 - Prob. 2MCQCh. 20 - Prob. 3MCQCh. 20 - Prob. 4MCQCh. 20 - Prob. 5MCQCh. 20 - Prob. 6MCQCh. 20 - Prob. 7MCQ
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- What is measured on the two axes of a Lorenz curve?arrow_forwardDescribe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might nut have such effects.arrow_forwardTo reduce income inequality, should the marginal tax rates on the top 1 be increased?arrow_forward
- How does the TANF attempt to loosen the poverty trap?arrow_forwardIf a family of three earned 20,000, would they be able to make ends meet given the official poverty threshold?arrow_forwardWhat is the relationship between a Lorenz curve and a Gini coefficient? Give some examples of how Lorenz curves and Gini coefficients can be used as summary measures of equality and inequality in a nation’s distribution of income.arrow_forward
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