SOLVED

61) In the figure above, the richest 20 percent of all households receive what share of all income? A) 10 percent B) 20 percent C) 30 percent D) 40 percent 62) In the figure above, the poorest 20 percent of all households receive what share of all income? A) 10 percent B) 20 percent C) 30 percent D) 40 percent 63) In the figure above, the second poorest fifth of all households receive what share of all income? A) 10 percent B) 20 percent C) 30 percent D) 40 percent 64) In the figure above, the middle fifth of all households receive what share of all income? A) 10 percent B) 20 percent C) 30 percent D) 40 percent 65) In the figure above, the curve going through point A represents A) an upward-sloping demand curve. B) the line of equality. C) the wage curve. D) the Lorenz curve. 66) In the above figure, point ________ shows an equal distribution of income, while point ________ shows an unequal distribution of income. A) a, b B) b, c C) b, a D) a, d 67) In the above figure, if the Lorenz curve were to move closer to the diagonal line containing points b and c, the income distribution would be A) more unequal. B) more equal. C) unchanged. D) More information is needed to determine how this change would affect the income distribution. 68) In the above figure, the Lorenz curve for income is shown. If the data used are from the United States, and the U.S. Lorenz curve for wealth was added to the diagram, it would be A) further from the line of equality than the Lorenz curve for income. B) closer to the line of equality than the Lorenz curve for income. C) above the line of equality. D) the same as the Lorenz curve for income. Â Â 69) The Lorenz curve in the above figure implies that A) income is equally distributed. B) the lowest fifth of households account for less than 20 percent of income. C) the highest fifth of households account for less than 20 percent of income. D) the lowest fifth of households account for more than 20 percent of income. 70) In the figure above, the lowest 20 percent of all households own ________ percent of all wealth, the next lowest 20 percent own ________ percent of all wealth and the richest 20 percent own ________ percent of all wealth. A) 20; 20; 20 B) 20; 40; 100 C) 5; 15; 40 D) 5; 20; 60