A Lorenz Curve Measures the ________ on the Horizontal Axis

question 58

Multiple Choice

A Lorenz curve measures the ________ on the horizontal axis.

• A) cumulative percentage of family income
• B) cumulative percentage of family wealth
• C) cumulative percentage of families
• D) demand of families on welfare

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Definitions:

Gang Labor

A system of labor, often used on plantations, where enslaved people were grouped into units or gangs for work, typically in agriculture.

Farm Prices

This term generally refers to the cost or price levels of agricultural products and commodities, which can significantly affect the economy.

Sharecropping Contract

An agricultural system prevalent after the Civil War where landowners allowed tenants to use the land in return for a portion of the crops produced on their portion of land.

Economic Slavery

Describes a condition where individuals are so financially indebted or economically constrained that they have no choice but to work for minimal pay, effectively being bound to their employers.