Which of the following statements is true?
a. Income distribution in the United States has gotten progressively more unequal since 1929.
b. The Lorenz curve indicates the degree of discrimination in an economy.
c. The Lorenz curve indicates the degree of income inequality in an economy.
d. The richest 5% of Americans earn approximately half of the nation's income.
e. All of these.
c
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Money cannot serve as a medium of exchange unless it also serves as a store of value. Is this statement true or false? Explain
What will be an ideal response?
The actual rate of unemployment will be greater than the natural rate of unemployment when
a. the actual output is less than the economy's potential output. b. the actual output is greater than the economy's potential output. c. the actual output is equal to the economy's potential output. d. the inflation rate has been relatively constant for several years.