Author Question: The Lorenz curve in the above figure implies that A) income is equally distributed. B) the ... (Read 48 times)

altibaby · **on:** Jun 29, 2018

The Lorenz curve in the above figure implies that

A) income is equally distributed.
B) the lowest fifth of households account for less than 20 percent of income.
C) the highest fifth of households account for less than 20 percent of income.
D) the lowest fifth of households account for more than 20 percent of income.

Question 2

In the short-run, real GDP can be greater than or less than potential GDP because in the short run the money wage rate is fixed.

Indicate whether the statement is true or false