The Lorenz curves in the above figure imply that
A) income is distributed more unequally than wealth.
B) wealth is distributed more unequally than income.
C) both wealth and income are distributed equally.
D) both wealth and income are distributed at the same level of inequality.
B
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The figure above shows the market for iPods. Which of the following shifts the demand curve from D0 to D2?
A) a decrease in the price of iPods B) a decrease in the price of Zunes, a substitute for iPods C) an increase in the price of iPods D) a decrease in people's incomes if iPods are a normal good E) a requirement that all students at universities have an iPod
In the U.S., the ________ and the ________ prohibit firms from explicitly agreeing to take actions that reduce competition
A) Department of Justice Act; Federal Trade Commission Act B) Sherman Antitrust Act; Federal Trade Commission Act C) Per Se Act; Sherman Antitrust Act D) Pareto Act; Anti-Cartel Act