Define the lorenz curve, Compared to the Gini coefficient

Define the lorenz curve

Reference no: EM13177822

Compared to the Gini coefficient for income distribution, the value of the Gini coefficient for the distribution of wealth would be
a. higher
b. lower
c. zero
d. nearly identical

The Lorenz curve shows the
a. percent of families on the vertical axis and percent of income on the horizontal axis
b. percent of families on the horizontal axis and the cumulative percent of income on the vertical axis
c. cumulative percent of income on the vertical axis and the cumulative percent of families on the horizontal axis
d. cumulative percent of families on the vertical axis and the cumulative percent of income on the horizontal axis

During the trough of the business cycle,
a. employment and income are at a low ebb
b. little investment in plant and equipment occurs
c. consumers postpone purchases of durable goods
d. all of the above

Which of the following categories of business cycle theories includes the theory of "real business cycles?"
a. physical
b. monetary
c. psychological
d. spending and saving

Reference no: EM13177822

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