The Lorenz curve shows the

The Lorenz curve shows the
 a. functional distribution of income
  b. personal distribution of income
  c. relative percentage of income going to each of the resources
  d. demand for unskilled versus unskilled labor
  e. cumulative percentage of income received by cumulative percentages of households

QUESTION 2

An increase in the selling price of the tires that Jim produces will increase the demand for Jim's labor.
 a. True
  b. False

QUESTION 3

In the United States, the dramatic increase in government social spending since the mid-1960s has
 a. made incomes less equally distributed
  b. made incomes equally distributed
  c. not greatly increased the money income share of the poorest fraction of the population
  d. greatly increased the money income share of the richest fraction of the population
  e. decreased the percentage of families in the lowest fifth

QUESTION 4

Economic rent is that portion of a resource's total earnings that exceeds its opportunity cost.
 a. True
  b. False

QUESTION 5

Census data on the income distribution among families in the United States in recent years show
 a. a rising share earned by the top fifth and a declining share earned by the bottom fifth
  b. a rising share earned by the bottom fifth and a declining share earned by the top fifth
  c. both the share earned by the top fifth and the share earned by the bottom fifth rising
  d. both the share earned by the top fifth and the share earned by the bottom fifth falling
  e. falling total income in the top fifth

QUESTION 6

The demand for a resource is derived from the consumer demand for the good or service produced by the resource.
 a. True
  b. False