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If the GDP deflator is less than 100,which will be higher: nominal GDP or real GDP? Why?
Income Distribution
The way in which total income is shared among the population or different segments of the economy.
Unequal
Lacking equality in size, quantity, or degree; not evenly distributed or balanced.
Lorenz Curve
The Lorenz Curve is a graphical representation of the distribution of income or wealth within a society, indicating the degree of inequality.
Equitable
Fair and impartial treatment, especially in matters of distribution of wealth, opportunities, and privileges within a society.
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