If a nation's Lorenz curve lies on the 45 degree line of income equality, then
A) more of the nation's income is received by the lowest 20 percent of families than by the highest 20 percent.
B) income is unequally distributed.
C) more of the nation's income is received by the highest 20 percent of families than by the lowest percent.
D) the income received by each 20 percent of families is 20 percent of the total income.
D
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Which of the following statements is a normative?
a. The price of gasoline is rising b. The price of gasoline is too high c. Gas prices are expected to fall in the near future d. Cars can run on gasoline, electricity, or diesel fuel e. When the price of gasoline rises, drivers buy less gasoline
The BP curve shifts to the left when:
a. the exchange rate falls. b. interest rates rise. c. income rises. d. imports increase.