Author Question: Using the table provided above, what can be concluded about the Gini ratio and what does this mean ... (Read 32 times)

amal · **on:** Jun 29, 2018

Using the table provided above, what can be concluded about the Gini ratio and what does this mean for income equality?

A) The Gini ratio is increasing which means there is greater income inequality.
B) The Gini ratio is increasing which means there is greater income equality.
C) The Gini ratio is decreasing which means there is greater income equality.
D) The Gini ratio is decreasing which means there is greater income inequality.

Question 2

What does a firm's short-run total product curve show and what is its significance?

What will be an ideal response?

shaquita · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

A

Answer to Question 2

A short-run total product curve shows the way the maximum output increases when the input of a variable factor of production (such as labor) increases, holding all other factors of production fixed. Its significance is that it shows the productivity of the variable factor of production as output is increased. The latter, in turn, is an important determinant of a firm's short run costs.