1 (1 point) Saved In a Lorenz curve, perfect income equality is represented by Question 1 options: a horizontal line. a rectangular hyperbola. a 45-degree line originating from the origin. a vertical line. Question 2 (1 point) Since 1950, the balance of trade for United States has Question 2 options: gone from a surplus to a deficit gone from a small deficit to a larger deficit gone from a deficit to a surplus remained constant Question 3 (1 point) The graph which represents the distribution of income in an economy is called the Question 3 options: distribution curve Lorenz curve Laffer curve aggregate demand curve Question 4 (1 point) Matt and Chloe each produce two goods. According to the principle of comparative advantage, the total output produced by these individuals will be greatest Question 4 options: if each good is produced by the individual who has the higher absolute cost of producing that good if Chloe produces both goods and Matt produces nothing if each good is produced by the individual who has the lower opportunity cost of producing that good if Matt produces both goods and Chloe produces nothing Question 5 (1 point) The Lorenz curve shows what