100 80- Country X 40 20- Country Z 20 40 60 80 100 PERCENTAGE OF HOUSEHOLDS 4. Based on the information in the Lorenz curve above, which of the following is true? a. People in Country X make more money than people in Country z. b. Income is more equally distributed in Country X than in Country Z. C. The top 20 percent of households in Country X received 60% of the total income. d. The top 20 percent of households in Country Z received 40 percent of the total income. e. The average income in Country X is higher than the average income in Country Z. PERCENTAGE OF INCOME

100 80- Country X 40 20- Country Z 20 40 60 80 100 PERCENTAGE OF HOUSEHOLDS 4. Based on the information in the Lorenz curve above, which of the following is true? a. People in Country X make more money than people in Country z. b. Income is more equally distributed in Country X than in Country Z. C. The top 20 percent of households in Country X received 60% of the total income. d. The top 20 percent of households in Country Z received 40 percent of the total income. e. The average income in Country X is higher than the average income in Country Z. PERCENTAGE OF INCOME

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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