If the Gini coefficient is 1, this means that __________.
a. the income distribution is completely equal
b. the income distribution is completely unequal
c. that there is no income distribution
b. the income distribution is completely unequal
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Which of the following is a result of imposing a rent ceiling?
A) There is an increase in the quantity of apartments demanded. B) The marginal benefit of the last apartment rented is less than the marginal cost of supplying it. C) Some consumer surplus is converted to producer surplus. D) There is an increase in the quantity of apartments supplied.
Which of the following is a justification for taxes?
a. the ability-to-pay principle b. the progressive tax principle c. the proportional tax principle d. the regressive tax principle e. the desire of the government to spend more funds