etical data on the size distribution of income and wealth for each quintile (on Second 10% 83 Fourth 25% 20% Third Highest 45% 58% 15% 123 solute equality on the graph below, draw the Lorenz curves for wealth and in tools provided to draw the Lorenz curve for income (Income) and the Lorenz e origin and each contain a total of 6 reference points. To enter exact coordin and y Tools Absolute equality income Wealth

etical data on the size distribution of income and wealth for each quintile (on Second 10% 83 Fourth 25% 20% Third Highest 45% 58% 15% 123 solute equality on the graph below, draw the Lorenz curves for wealth and in tools provided to draw the Lorenz curve for income (Income) and the Lorenz e origin and each contain a total of 6 reference points. To enter exact coordin and y Tools Absolute equality income Wealth

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I plugged in a picture where it says "sample answer" as an example of what the answer would need to look like. thanks

Following are hypothetical data on the size distribution of income and wealth for each quintile (one-fifth) of a population:
Quintile
Income
Wealth
Lowest
Second
10%
Fourth
25%
20%
Third
Highest
45%
58%
5%
15%
123
2X
8%
a. Given the line of absolute equality on the graph below, draw the Lorenz curves for wealth and income.
Instructions: Use the tools provided to draw the Lorenz curve for income (Income) and the Lorenz curve for wealth (Wealth). These
lines should start at the origin and each contain a total of 6 reference points. To enter exact coordinates, double click on the point and
enter the values of x and y.
100
Tools
Absolute equality
90
80
Income
Wealth
70
60
50
40
30
20
a. Given the line of absolute equality on the graph below, draw the Lorenz curves for wealth and income.
Instructions: Use the tools provided to draw the Lorenz curve for income (Income) and the Lorenz curve for wealth (Wealth). These
lines should start at the origin and each contain a total of 6 reference points. To enter exact coordinates, double click on the point and
enter the values of x and y.
100
Tools
90
Absolute equality
80
Income
Wealth
70
60
50
40
30
20
10
20
40
60
80
100
Cumulative Percentage of Population
Cumulative Percentage of Wealth or Income
ative Percentage of Wealth or Income

Your answer
Sample answer
100
100
90
Absolute equality
Absolute equality
90
80
80
70
70
60
60
50
50
40
40
30
30
20
20
10
10
20
40
60
80
100
20
40
60
80
100
Cumulative Percentage of Population
Cumulative Percentage of Population
Click to close.
Cumulative Percentage of Wealth or Income
Cumulative Percentage of Wealth or Income

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