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The World Lorenz Curve Coincides with the Line of Income

question 83

True/False

The world Lorenz curve coincides with the line of income equality because the average income of the different countries are more or less equal.


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Statute

A written law passed by a legislative body at either the federal or state level.

State Legislature

is the legislative body within a state that has the authority to make, amend, and repeal laws within that state.

Common Law

A legal system based on judicial decisions and precedents rather than statutory laws, primarily used in the UK and countries that were former colonies.

Judge-Made Law

Laws that have evolved from judicial decisions or case law, rather than from statutes or constitutions, thereby reflecting the judiciary's role in interpreting and applying legal principles to specific cases.

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