The above table shows the distribution of wealth and income in Miseria. The Lorenz curve for wealth would
A) intersect the horizontal axis at 100 percent.
B) bow outward more to the right than does the Lorenz curve for income.
C) lie parallel to the line of equality.
D) become flatter as one moves from left to right.
B
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In New York City, when he was the mayor Michael Bloomberg recommend that the city, with the help of private donors, make cash payments to poor and underprivileged parents who can certify that their children are attending school on a regular basis
The payments would start after third grade and go through high school, rising each year as dropout rates get higher and a child's forgone earning potential is higher. What economic concept does this policy represent? A) public goods B) incentives C) externalities D) technological progress E) the "invisible hand"
Changing the price of a good will usually result in a negative externality
Indicate whether the statement is true or false