Lorenz Curves Tell Us About the

question 123

Multiple Choice

Lorenz curves tell us about the

• A)absolute distribution of income.
• B)poverty line.
• C)incidence of malnutrition.
• D)relative distribution of income.
• E)inverse relationship between price and the quantity demanded.

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Definitions:

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged, in order to be enforceable.

Enforceable

That which can be compelled or executed in accordance with legal statutes or regulations.

Binding Contracts

Agreements that are legally enforceable in a court of law, with all parties having agreed to the terms.

Joint Tenancy

A form of co-ownership where two or more persons hold an equal interest in a property with the right of survivorship.