1. When Lorenz curves are __________. a. more curved the greater is the degree of income inequality b. less curved the greater is the degree of income inequality c. used in calculating Gini coefficients d. first and third option are correct
1. When Lorenz curves are __________. a. more curved the greater is the degree of income inequality b. less curved the greater is the degree of income inequality c. used in calculating Gini coefficients d. first and third option are correct
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 1SCQ: Describe how each of these changes is likely to affect poverty and inequality: Incomes rise for...
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1. When Lorenz curves are __________.
a. more curved the greater is the degree of income inequality
b. less curved the greater is the degree of income inequality
c. used in calculating Gini coefficients
d. first and third option are correct
2. 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
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