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Question
Some economists criticize the Lorenz curve because it
A) accounts for differences in the size of households when it should not.
B) does not include the cumulative percentage of households.
C) does not include unreported income earned in the underground economy.
D) represents the inequality of lifetime income when it should just look at a specific time period.
Answer
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Related questions
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Refer to the above figure. Other things being equal, when the government imposes a price floor at P2, then we would expectA) the quantity demanded is Q 2.B) a surplus will occur.C) price to decline until an equilibrium is achieved at P0.D) consumers to bid against each other for goods and force the price even higher.
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Q:
Which of the following statements is FALSE?
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Q:
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The United Statesʹ balance of payments is likely to improve whenA) there is an increase in political instability in other countries.B) the inflation rate in the United States rises relative to other countries.C) the American government increases its spending on foreign aid. D) American people want to invest more in foreign countries.