Lorenz curve as graphical device

A Lorenz curve is graphical device which can be utilized to portray the: (w) number of people below the poverty level. (x) conflict between high tax rates and high tax revenues. (y) relative inequalities in the distribution of a variable across a population or group of firms. (z) trade off between unemployment and inflation.

Hey friends please give your opinion for the problem of Economics that is given above.

View Complete Question

Related Questions in Microeconomics

Q : Equilibrium price of commodity Describe

Describe why the equilibrium price of commodity is determined at the level of output at which its demand equavalents its supply.

Q : Arsing short-run shut-down point in firm

The Christmas tree farm’s short-run shut-down point arises at a price of: (i) P1. (ii) P2. (iii) P3. (iv) P4. (v) Not computable from these figures.

Q : Cost structure characteristic in purely

When Cling Peach Orchards has a cost structure characteristic of peach orchards into this purely competitive industry, when the long run new competitors would most likely enter the market providing the wholesale price per bushel of peaches exceeded: (

Q : Price discriminate by unregulated

Unregulated monopolistic firms which do not price discriminate do NOT: (i) have power as price makers. (ii) dominate the supply side of the market. (iii) select profit maximizing price/quantity combinations from the market demand curv

Q : Problem on market demand for chewing gum

The market demand for the chewing gum is as: QG = 300 – 40PG – 8PS + 0.05IHere:QG = Quantity of gum demandedPG = price of gumPS = price of sodaI = average inc

Q : Problem regarding Substitution of goods

When tuna fish ice cream and licorice gummy bears are substitutes, then: (1) Decline in the price of licorice gummy bears raises the demand for tuna fish ice-cream. (2) The demand for tuna fish ice-cream is independent of price of licorice gummy bears. (3) Consuming m

Q : Open market operation-Deficient demand

Open market operation signifies to the sale and purchase of securities by the Central Bank in case of deficient demand whenever AD falling short of AS at full employment, the Central Bank purchases securities in open market and makes payment to the se

Q : Transaction costs by pure economic rents

When transaction costs exist, in that case taxes on what appear to be pure economic rents to: (1) pose especially severe problems for economic efficiency. (2) may be inefficient since taxes reduce incentives to put resources to their

Q : Price and output combination by demand

Not like a purely competitive firm, here a profit-maximizing monopolist can: (w) charge any price it finds advantageous and be assured of selling all this produces. (x) select a price and output combination by a downward-sloping demand curve. (y) spen

Q : Goods and services Refer to the above

Refer to the above data. Choose the right answer from following. Zabella's balance on goods and services illustrates a: A) $5 billion deficit. B) $5 billion surplus. C) $10 billion surplus. D) $15 billion deficit.

Discover Q & A

Leading Solution Library

Avail More Than 1433063 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1935137
Asked

3,689

Active Tutors

1433063

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment