Attempts Keep the Highest 1/3 2. Constructing a Lorenz curve from Income shares data The following table shows the approximate Income distribution for Colombia, Ukraine, and Turkey in 2014. In particular, it shows the income shares of each fifth of the income distribution. Percentage Share, 2014 Percentage of Families Colombia Ukraine Turkey Lowest fifth 2 9 5 Second-lowest fifth 6 14 10 Middle fifth 11 17 14 Second-highest fifth 18 22 21 Highest fifth 63 38 50 has the least total income. 100 8 CUMULATIVE PERCENTAGE OF MONEY INCOME 20 40 00 60 graph.) 20 40 60 CUMULATIVE PERCENTAGE OF FAMILIES 100 Colombia O Ukraine Turkey has the least income inequality. (Hint: You may want to refer to the previous Lorenz curve

Attempts Keep the Highest 1/3 2. Constructing a Lorenz curve from Income shares data The following table shows the approximate Income distribution for Colombia, Ukraine, and Turkey in 2014. In particular, it shows the income shares of each fifth of the income distribution. Percentage Share, 2014 Percentage of Families Colombia Ukraine Turkey Lowest fifth 2 9 5 Second-lowest fifth 6 14 10 Middle fifth 11 17 14 Second-highest fifth 18 22 21 Highest fifth 63 38 50 has the least total income. 100 8 CUMULATIVE PERCENTAGE OF MONEY INCOME 20 40 00 60 graph.) 20 40 60 CUMULATIVE PERCENTAGE OF FAMILIES 100 Colombia O Ukraine Turkey has the least income inequality. (Hint: You may want to refer to the previous Lorenz curve

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter12: Income Distribution, Poverty, And Discrimination

Section: Chapter Questions

Problem 1SQP

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nd Study Tools tions ccess Tips cess Tips Back 2. Constructing a Lorenz curve from income shares data The following table shows the approximate income distribution for Colombia, Ukraine, and Turkey in 2011. In particular, it shows the income shares of each quintile of the income distribution. Income Group Lowest quintile Second quintile Third quintile Fourth quintile Highest quintile Percentage of Total Income, 2011 Turkey Colombia Ukraine 2 9 5 6 14 10 17 14 21 50 18 63 22 38 has the most total income. On the following graph, plot the Lorenz curves for the three countries. Plot Colombia's Lorenz curve using the green points (triangle symbol), Ukraine's Lorenz curve using the blue points (circle symbol), and Turkey's Lorenz curve using the purple points (diamond symbol) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
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