1) Greater curvature of the Lorenz line is correlated to greater relative degree of inequality. 2) The opportunity cost of an education, in developing countries, is relatively low compared to those in a highly developed country. a. First statement is TRUE, second is FALSE b. First statement is FALSE, second is TRUE c. Both statements are TRUE d. Both statements are FALSE
1) Greater curvature of the Lorenz line is correlated to greater relative degree of inequality. 2) The opportunity cost of an education, in developing countries, is relatively low compared to those in a highly developed country. a. First statement is TRUE, second is FALSE b. First statement is FALSE, second is TRUE c. Both statements are TRUE d. Both statements are FALSE
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1) Greater curvature of the Lorenz line is correlated to greater relative degree of inequality. 2) The opportunity cost of an education, in developing countries, is relatively low compared to those in a highly developed country.
a. First statement is TRUE, second is FALSE
b. First statement is FALSE, second is TRUE
c. Both statements are TRUE
d. Both statements are FALSE
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