The More Bowed Out the Lorenz Curve, the

question 57

Multiple Choice

The more bowed out the Lorenz curve, the

• A) less equal the income distribution.
• B) more equal the income distribution.
• C) greater the overall wealth in the economy.
• D) less the overall wealth in the economy.

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Definitions:

Oral Contract

An agreement between parties that is made through spoken words and is legally binding, although it may be difficult to prove.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to standardize legislation across states.

Article 2

A part of the Uniform Commercial Code (UCC) dealing specifically with the sale of goods in the United States.

Legally Binding

A term describing agreements or contracts that have legal force and can be enforced by law.