In 2004, households with incomes less than $22,629 received 3.4 percent of aggre

Question

In 2004, households with incomes less than $22,629 received
3.4 percent of aggregate income
5.7 percent of aggregate income
8.2 percent of aggregate income
10 percent of aggregate income



Question 47 2 points Save
The goal of every economic system should be the elimination of income inequality.
True
False



Question 48 2 points Save
If a single household received all income, the Gini coefficient would
have a value of zero
be identical to the Lorenz distribution
have a value of 1
have a value of infinity



Question 49 2 points Save
Which of the following can you determine from a Lorenz curve of U.S. income distribution?
the average income of U.S. households
the percentage of income going to the lowest 20 percent of households
the amount of income going to the lowest 20 percent of households
the percentage of income going to wages and salaries



Question 50 2 points Save
If income were distributed solely according to productivity, some individuals would not receive any income.
True
False

Explanation / Answer

b true c d false

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