When the Lorenz curve lies above the diagonal,
a. the poorest 20 percent of the population receive more than 20 percent of income.
b. the richest 20 percent of the population receive more than 20 percent of income.
c. everyone receives the same income.
d. the country's income has been rising over time.
e. it is wrong since it is impossible for the graph to look like this.
e
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A constant rate of U.S. economic growth over a given period of years would involve
A) adding the same amount of real dollars to real GDP per capita each year. B) compounding the percentage increase in real GDP per capita over the years. C) adding the same amount of nominal dollars to real GDP per capita each year. D) None of the above are correct.
Which of the following was the earliest type of money?
a. Coins b. Barter c. Commodity money d. Token money e. Fiat money