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Economics Homework Twelve - Model (view source)
Revision as of 02:21, December 14, 2009
, 02:21, December 14, 2009a start
3. Review: how is the elasticity of demand for labor related to the price elasticity of demand for the product of that labor?
3. Review: how is the elasticity of demand for labor related to the price elasticity of demand for the product of that labor?
:Here's an example curve:
:http://ingrimayne.com/econ/AllocatingRationing/MeasuringIncomeDist.html (Note the shape of the actual income distribution is different from the erroneous step function I described in Lecture 12. Sorry!)
4. Do you think that government policy should give high priority to the Lorenz curve? Explain the issue that a Lorenz curve addresses, and whether you think that should be a high priority of government economic policy.
4. Do you think that government policy should give high priority to the Lorenz curve? Explain the issue that a Lorenz curve addresses, and whether you think that should be a high priority of government economic policy.