An Increase in Income Equality Causes the Lorenz Curve to Become

question 51

True/False

An increase in income equality causes the Lorenz curve to become more bowed away from the line of equality.

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Definitions:

Life Expectancy

The average number of years a person is expected to live, based on statistical analysis of current mortality rates.

Industrial Countries

Nations with highly developed economies characterized by significant industrial activity, advanced technology, and a high standard of living.

Labor-Intensive Service Sector

A segment of the economy that relies heavily on human labor rather than machinery to provide services.

Manufacturing Productivity

The measure of output produced per labor hour in the manufacturing sector.