A Cartoon in the Text Says That While the Economy

question 58

Multiple Choice

A cartoon in the text says that while the economy has been expanding,the share of income to blacks and poor whites has decreased.This implies that the

• A)Area between the Lorenz curve and the absolute equality line has increased.
• B)Level of income inequality has decreased.
• C)Gini coefficient is smaller.
• D)Tax elasticity of supply is greater.

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Definitions:

Distribute

To allocate or spread out resources or goods across different recipients or areas.

Natural Heirs

Individuals who are legally entitled to inherit the estate of a deceased person based on their relationship by blood or adoption.

Testator

An individual who has made a valid will to direct the distribution of their estate after their death.

Abatement

A reduction, decrease, or complete removal, often in reference to taxes, rent, or nuisances.