A Gini coefficient of one means that ?

Related Mcqs:

The maximin criterion suggested by Rawls’s theory of justice means that the government should aim to ?

A. Maximize the total utility of society B. Maximize the well-being of the worst-off person in society C. minimize the difference between the rich and poor D. maximize the economic freedom of individuals by minimizing government interference in private decision making E. minimize the well-being of the best-off person in society...

The formula for the marginal revenue product of labour (L is for labour, X is the product) is ?

A. MPL + PX B. (MPL) (PX) C. PX/MPL D. MPL/PX...

Housing Benefit is a good example of ?

A. a means tested cash benefit B. a universal (social insurance based) benefit C. a benefit in kind D. none of the above...

Assuming that leisure is a normal good. if an individual’s labour supply curve is backward bending then the ?

A. income effect is zero B. substitution effect outweighs the income effect C. income effect outweighs the substitution effect D. income effect and the substitution effects are equal...

The marginal tax rate is ?

A. the tax rate you pay on any additional income that you earn. B. the total amount of tax you pay divided by your total income C. the additional tax you pay divided by your total income D. your total income divided by the total amount of tax you pay....