Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

g) If incomes double in a country and the Gini coefficient remains unchanged, the absolute level of difference between incomes of rich and poor remains

g) If incomes double in a country and the Gini coefficient remains unchanged, the absolute level of difference between incomes of rich and poor remains the same.

True or False ( Explanation please)

h) Gross domestic product (GDP) based on Purchasing Power Parity (PPP) is the same as GDP based on the exchange rate. (4 marks)

True or False ( Explanation please)

i) Engel's law indicates that as income increases the proportion of income spent on necessity goods rises. (4 marks)

True or False ( Explanation please)

j) Theil index is a better measure of income inequality than the Gini coefficient. (4 marks)

True or False ( Explanation please)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law And The Legal Environment

Authors: Jeffrey F Beatty, Susan S Samuelson

4th Edition

0324303971, 9780324303971

More Books

Students also viewed these Economics questions

Question

=+What kind of study is this?

Answered: 1 week ago

Question

The background knowledge of the interpreter

Answered: 1 week ago