The farther the Lorenz curve from the line of perfect equality, the lower is the income inequality. True or false?

Q: "How can the US government use taxation to encourage income equality?"

A: An income equality refers to an uneven distribution of the income throughout a population, groups,…

Q: What is the Lorenz curve and what does it illustrate? Are incomes distributed equally? What would…

A: The Lorenz curve is a graphical representation that illustrates the distribution of income or wealth…