Between 1968 and 2010, the Lorenz Curve of the United

question 50

Multiple Choice

Between 1968 and 2010, the Lorenz curve of the United States became:

• A) a straight line.
• B) closer to the 45-degree line.
• C) more bowed out.
• D) more bowed in.

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Definitions:

National Income

The total value of all income earned by the residents of a country in a given period, including wages, profits, and investment returns.

Entrepreneur

An individual who organizes, operates, and assumes the risk for a business venture, often introducing innovations and facilitating economic development.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist known for his theories about capitalism and communism.

Demand For Land

The desire for ownership or use of land, driven by various factors including its potential for development, agricultural use, or investment.