Economics
ECON 162 Binghamton University Macroeconomics and Market Structure Questions

ECON 162

Binghamton University

ECON

Question Description

I don’t understand this Economics question and need help to study.

The Lorenz curve is a model that shows

a.

the quantity demanded in a market at different prices.

b.

the cumulative shares of income earned by different percentiles of the population.

c.

the maximum combinations of two goods that can be produced given a certain quantity of resources and state of technology.

d.

all of the combinations of two goods that can be achieved through trade.

e.

none of the above

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Final Answer

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1. The Lorenz curve is a model that shows
a. the quantity demanded in a market at different prices.
b. the cumulative shares of income earned by different percentiles of the population.
c. the maximum combinations of two goods that can be produced given a certain quantity of resources
and state of technology.
d. all of the combinations of two goods that can be achieved through trade.
e. none of the above
2. QUESTION 2
1. As the Gini coefficient increases,
a. the degree of inequality increases.
b. the society becomes more egalitaria...

CarterT (4434)
University of Virginia

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