Income is distributed ________ equally than wealth and the Lorenz curve for ________ lies closer to the line of equality

In the 2-factor, 2 good Heckscher-Ohlin model, the country with a relative abundance of ________ will have a production possibility frontier that is biased toward production of the ________ good

A) labor; labor intensive B) labor; capital intensive C) land; labor intensive D) land; capital intensive E) capital; land intensive

Which of the following is true of minimum-wage laws?

a. They affect skilled workers' wages. b. They create above-equilibrium wages for some unskilled workers. c. They create a shortage of unskilled labor. d. They negatively affect the employment of skilled workers.