The Lorenz curve would be a diagonal line if income were distributed equally.
Answer the following statement true (T) or false (F)
True
The diagonal line represents an income distribution such that each quintile family earns the same quintile of income. That is, income is equally distributed.
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The short-run aggregate supply curve in modern Keynesian analysis represents the relationship between
A) the real output of goods and services in the economy and the price level when people have fully adjusted their behavior. B) the nominal output of goods and services and the real output of goods and services. C) the real output of goods and services in the economy and the price level. D) the real output of goods and services in the economy and the price level when people have not fully adjusted their behavior.
The provision of aid to an individual who is not required to provide anything in exchange is called a transfer payment.
a. true b. false