What would the Lorenz curve look like if the income distribution were equal?
What will be an ideal response?
If incomes were equal the Lorenz curve would look like a 45-degree line.
Economics
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The term "market" refers to
A) physical structures only. B) locations where buyers and sellers physically meet. C) any arrangement that enables buyers and sellers to get information and trade with one another. D) trading arrangements that have been approved by the government.
Economics
Which of the following is not an exchange rate system?
a. Flexible exchange rates b. Crawling peg c. Fixed exchange rates d. Managed floating e. Purchasing power parity
Economics