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question #1
1. Consider the following statements about the Lorenz curve :
I. The degree of income inequality will be higher, farther the Lorenz curve is from the line of equal distribution.
II. The limits of Lorenz ratio (L) are : – 1 < L < 1
III. The degree income inequality will be lower, closer the Lorenz curve is to the line of equal distribution.
Select the correct answer from the codes given below :
Codes :

C
.

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NET Paper 3 - Economics - August 2016