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Author Question: An indifference curve shows A) the relationship between prices and a household's budget. B) all ... (Read 110 times)

kwoodring

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on: Jun 29, 2018
An indifference curve shows
 
  A) the relationship between prices and a household's budget.
  B) all possible prices and preferences for a good.
  C) combinations of goods among which a household is indifferent.
  D) budget lines among which a consumer is indifferent.

Question 2

The above figure shows the Lorenz curve for wealth for the nation of Rusha.
 
  If the government were to confiscate all of the wealth from the poorest twenty percent of the population and give it to the wealthiest twenty percent, the Lorenz curve would A) not change.
  B) shift farther away from the line of equality.
  C) shift closer to the line of equality.
  D) flip above the line of equality.


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bd5255

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


kwoodring

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Reply #2 on: Jun 29, 2018
Thank you :)


bd5255

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Reply #3 on: Jun 29, 2018
Happy to help you


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