Exhibit 12-2 Lorenz curve
As shown in Exhibit 12-2, the distance between points B and D means that 60 percent of families earn ____ less of total income than required for perfect equality.

If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed and 150 million employed, the labor force participation rate is

A) 69.6 percent. B) 23.3 percent. C) 6.67 percent. D) 50 percent.

If Jane's marginal benefit as a consumer in the jeans market is larger than the price of a pair of jeans:

a. Jane will not purchase any more jeans. b. Jane can benefit by purchasing more jeans. c. the opportunity cost of a pair of jeans is lower than the price. d. Jane will decrease her total utility by purchasing more jeans.