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2. If a Lorenz curve is a 45-degree line sloping upwards, this means ... a) that the society's distribution of income is highly unequal. b) that one household receives all the income in the society. c) that the society directs all its efforts toward the least fortunate. d) that all households in the society have the same income. e) that the society's Gini coefficient is 0. 3. Which one of the following statements is false? a) The U.S. has the highest Gini ratio among industrialized countries. b) A Gini ratio of one indicates absolute equality. c) Adding in the value of capital gains tends to increase measures of economic inequality. d) Adding in the effect of taxation tends to reduce measures of economic inequality. e) The lowest Gini ratios for the U.S. occurred in the late 1960s. 4. In what year was the distribution of income in the U.S. the most equal? a) 1947 b) 1955 c) 1968 d) 1979 e) 1989 5. Which one of the following statements is false about United States income or wealth? a) Married couples have higher median household incomes than single people. b) Households in metropolitan areas have higher median incomes than households outside of metropolitan areas. c) The median value of household assets increases by age groups. d) The median value of household assets increases with education. e) Median household assets for white householders are almost twice as high as median household assets for Hispanic and black householders