The above figure shows the Lorenz curve for wealth for the nation of Rusha. The poorest forty percent of the population own what percent of wealth?

Under a pure system of laissez faire, the government would not do which of the following?

a. prosecute criminals b. provide national defense c. punish those involved in conspiracies to fix prices d. establish minimum wages

In 1989, Hurricane Hugo devastated Charleston, South Carolina, leaving residents with no electricity for light or refrigeration, and completely cut off from the outside world by fallen trees and washed-out roads. Consequently, the price of ice rose 1,000 percent and generators 300 percent. Tree removal firms were charging $4,000 to cut up a single tree. Outraged, the city government enacted an

emergency law prohibiting price "gouging." This law is an example of a. the cost disease of services. b. a price ceiling. c. the laissez-faire rule. d. the indispensable necessity syndrome.