Looking at a Lorenz curve, the first quintile viwed from the origin records the
a. the income held by the richest 50 percent of population
b. the income held by the richest 20 percent of population
c. the income held by the poorest 50 percent of population
d. the income held by the poorest 20 percent of population
e. the wealth held by the poorest 10 percent of population
D
Economics
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The figure illustrates aggregate demand and aggregate supply in Sparta. Which of the following events will decrease Sparta's real GDP in the short run?
A) a decrease in taxes B) a fall in resource prices C) a decrease in government expenditure D) an increase in investment
Economics
Ronald Coase's analysis of externalities emphasizes the importance of:
a. command-and-control regulations. b. effluent taxes. c. property rights. d. international sovereignty.
Economics