If we know that the area between the Lorenz curve and the diagonal is 2,500, and the area of the square (the triangles above and below the diagonal) is 10,000 . then the Gini coefficient is

Wichita is building a convention center and financing it with revenues raised from a city hotel tax. Local politicians assert that the convention center is essentially free for Wichita residents because out-of-town visitors are paying for it

Someone who is practicing the economic way of thinking would disagree because A) the hotel tax may lead to a decline in visits to Wichita. B) they believe that Wichita does not need a new convention center. C) the hotel tax may reduce commercial property values in the area. D) there are other projects that could be undertaken with the tax funds. E) the convention center may not pass a marginal cost-benefit test.

Social Security was established

a. in the 1930s to provide retirement income to those with a work history b. in the 1930s to provide jobs for the unemployed c. in the 1930s to provide health insurance d. in the 1960s to provide retirement income to those with a work history e. in the 1960s to provide health insurance