The table below shows the share of income going to each quintile of the income distribution for a nation in 1950 and 2000. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. The purple line represents 1950. The green line represents 2000. Share of income received 1950 2000 Bottom 20% 10% 5% Bottom 40% 30% 15% Bottom 60% 50% 35% Bottom 80% 75% 60% All 100% |100% 100% Provide your answer below: 110 100 -90 -80 (90, f0) 70 (100, 70) -60 Perfect Equality (100,50) Year 2000 50 (80,50 Year 1950 40 (70, 30) 30 (50, 20) 20 (90, 20) 10 (60, 10) 100 Income Ouintiles 20 40 60 80 Cumulative Share of Income

The table below shows the share of income going to each quintile of the income distribution for a nation in 1950 and 2000. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. The purple line represents 1950. The green line represents 2000. Share of income received 1950 2000 Bottom 20% 10% 5% Bottom 40% 30% 15% Bottom 60% 50% 35% Bottom 80% 75% 60% All 100% |100% 100% Provide your answer below: 110 100 -90 -80 (90, f0) 70 (100, 70) -60 Perfect Equality (100,50) Year 2000 50 (80,50 Year 1950 40 (70, 30) 30 (50, 20) 20 (90, 20) 10 (60, 10) 100 Income Ouintiles 20 40 60 80 Cumulative Share 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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