Author Question: For the United States, Lorenz curves show that A) income is more equally distributed than wealth. ... (Read 115 times)

Chloeellawright · **on:** Jun 29, 2018

For the United States, Lorenz curves show that

A) income is more equally distributed than wealth.
B) income is less equally distributed than wealth.
C) incomes have increased over time.
D) blacks and Hispanics became better off in the 1990s.

Question 2

Because of the income effect, a higher wage rate

A) shifts the supply of labor curve leftward.
B) shifts the supply of labor curve rightward.
C) leads to a decrease in quantity of labor supplied.
D) leads to an increase in quantity of labor supplied.