If income is equally distributed, the Gini ratio is 1

Indicate whether the statement is true or false

FALSE

Economics

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Most college professors are granted tenure after six years of employment. Tenure implies a lifetime appointment. What problem does this situation create, and how can colleges minimize the problem?

What will be an ideal response?

Economics

Real gross domestic product (GDP) is measured in terms of _____

a. current-year prices b. base-year prices c. foreign currencies d. the quality of goods produced e. hours of employment

Economics