extraquiz4 - b decreased c stayed constant d no particular...

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Econ 251 Fall 2009 Extra Credit #4 Anca Cristea 1. One way to represent graphically income inequality is via: a. the payoff matrix b. the income Lorenz curve c. the demand and supply curves d. neither of the above 2. When the income Lorenz curve is identical with the 45 degree line, this implies: a. Perfect equality across incomes b. Maximum inequality across incomes c. Gini ratio is indeterminate d. 3. Over time, income inequality in the U.S. has: a. increased
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Unformatted text preview: b. decreased c. stayed constant d. no particular trend. 4. If a country taxes income at an average rate that is increasing in income level, then we call this: a. Progressive tax b. Regressive tax c. Flat income tax d. Neither of the above 5. The final exam for Econ 251 is going to cover: a. All class material (cumulative exam) b. Only material after midterm #2 c. Only the first 5 chapters d. Only odd number chapters...
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This note was uploaded on 10/04/2011 for the course ECONOMICS 251 taught by Professor Kelly during the Spring '11 term at Purdue.

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