The most widely used measure of income inequality is
A) the Bureau of Labor Statistics' cost-of-living index.
B) the Laffer curve.
C) the Lorenz curve.
D) the Gemini coefficient.
C
Economics
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If a 5 percent increase in price results in a 3 percent increase in the quantity supplied, the elasticity of supply is
A) 0.30. B) 0.60. C) 1.20. D) 1.66.
Economics
If Joel buys ten floppy disks, which are worth a total of $30 to him, and he pays $1 a disk, how much consumer surplus does he derive?
a. $24 b. $15 c. $20 d. $10 e. $2 from each floppy disk
Economics