All of the Following Are Criticisms of the Lorenz Curve

question 150

Multiple Choice

All of the following are criticisms of the Lorenz curve analysis EXCEPT

• A) income-in-kind is not figured in.
• B) the inequality gap is not an issue that economists study.
• C) different sizes of households are ignored.
• D) it does not take into consideration lifetime earnings.

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Definitions:

Import Quotas

Government-imposed limits on the amount or volume of goods that can be imported into a country.

Imported Products

Goods or services brought into one country from another, contributing to international trade and consumer choices.

Domestic Supply

The aggregate production of goods and services within a country, intended for use inside the country or for export.

Domestic Demand

The total demand for goods and services within the domestic economy, excluding exports but including imports.