Illustrates the Loren curve by total personal income

When 40 percent of total personal income was received by 20 % of the highest income families, in that case the: (w) income distribution would be perfectly equal. (x) income pattern would be foreign to the U.S. (y) Lorenz curve would be the 45 degree reference line. (z) Lorenz curve would be below the 45 degree reference line.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Intersections of supply and demand

Can someone please help me in finding out the accurate answer from the following question. The prices beneath the intersections of supply and demand curves cause: (i) Shortages. (ii) Surpluses. (iii) Demands to expand. (iv) Inventories to grow. (v) Sc

Q : Elasticity of Supply Elasticity of

Elasticity of Supply: The law of supply states us that quantity supplied will react to a modification in price. The notion of elasticity of supply elucidates the rat

Q : Downward-sloping demand curve The law

The law of demand is graphically demonstrated by: (1) Movement all along the supply curve. (2) The downward-sloping demand curve. (3) The rightward shift of demand curve. (4) Shifting of production possibilities. C

Q : Kinked demand curve about product price

When an oligopolist is aware about the firm faces a kinked demand curve, this: (1) may cut price along with little expected reaction by rivals. (2) can avoid consumer demand and preferences. (3) may keep product price despite large ch

Q : Feature of constant elasticity demand

A constant elasticity demand curve as: (w) cannot be negatively sloped. (x) must be a straight line. (y) cannot be a negatively sloped straight line. (z) has a positive slope. I need a good answer on the topic of <

Q : Patents and freedom of entry and exit

The LEAST compatible of such with the other three sets would be as: (w) entrepreneurship and innovation. (x) uncertainty and risk. (y) pure profit and monopoly. (z) patents and freedom of entry and exit. Hey friends please give you

Q : Relationship between APP-MPP If APP is

If APP is at its maximum, then what is the relationship among MPP and APP? Answer: MPP = APP

Q : Rate of Return on Interest Rate When

When the rate of return onto an asset exceeds the interest rate: (1) its present value exceeds its price. (2) the market is moving away by equilibrium. (3) you should sell the asset as rapidly as possible. (4) economic rent is being r

Q : Graphical explanation of production

The production possibilities frontier graphically demonstrates the: (i) Production limitations which confront the society. (ii) Benefits inherent in the capitalistic economy. (iii) Social selections available if technology is boundless. (iv) Structura

Q : Financial investments-traceable by most

Most of the U.S. capital investment is traceable to the financial investments by households, that is one way that private individuals: (i) Turn into capitalists. (ii) Save. (iii) Evade taxes. (iv) Avoid the circular flow of resources and income.

Discover Q & A

Leading Solution Library

Avail More Than 1443786 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1934525
Asked

3,689

Active Tutors

1443786

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment