a. Draw a Lorenz curve for an economy comprising of unemployed (with zero income), workers and employers that serves as a representation of South Africa b. Use this Lorenz curve to explain how growth that reduces unemployment affects income inequality. c. Use the Lorenz curve from (a) to illustrate and discuss how the implementation of a Basic Income Grant (a payment of a fixed amount of income to every person) financed through taxation may affect inequality of disposable income.

a. Draw a Lorenz curve for an economy comprising of unemployed (with zero income), workers and employers that serves as a representation of South Africa b. Use this Lorenz curve to explain how growth that reduces unemployment affects income inequality. c. Use the Lorenz curve from (a) to illustrate and discuss how the implementation of a Basic Income Grant (a payment of a fixed amount of income to every person) financed through taxation may affect inequality of disposable 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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