The following table shows the approximate income distribution for Nicaragua, Haiti, and Croatia 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 CUMULATIVE PERCENTAGE OF INCOME You cannot tell from this table which country has the least total income. 100 On the following graph, plot the Lorenz curves for the three countries. Plot Nicaragua's Lorenz curve using the green points (triangle symbol), Haiti's Lorenz curve using the blue points (circle symbol), and Croatia's Lorenz curve using the purple points (diamond symbol). Line segments will automatically connect the points. 80 60 40 20 Percentage of Total Income, 2011 Nicaragua Haiti Croatia 6 2 8 10 6 13 14 10 17 21 18 49 64 0 22 0 40 20 40 60 80 CUMULATIVE PERCENTAGE OF HOUSEHOLDS 100 Nicaragua Haiti Croatia (?) has the least income inequality. (Hint: You may want to refer to your previous answers.)

The following table shows the approximate income distribution for Nicaragua, Haiti, and Croatia 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 CUMULATIVE PERCENTAGE OF INCOME You cannot tell from this table which country has the least total income. 100 On the following graph, plot the Lorenz curves for the three countries. Plot Nicaragua's Lorenz curve using the green points (triangle symbol), Haiti's Lorenz curve using the blue points (circle symbol), and Croatia's Lorenz curve using the purple points (diamond symbol). Line segments will automatically connect the points. 80 60 40 20 Percentage of Total Income, 2011 Nicaragua Haiti Croatia 6 2 8 10 6 13 14 10 17 21 18 49 64 0 22 0 40 20 40 60 80 CUMULATIVE PERCENTAGE OF HOUSEHOLDS 100 Nicaragua Haiti Croatia (?) has the least income inequality. (Hint: You may want to refer to your previous answers.)

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'm not sure if I am answering this question correctly, or how to graph it.

The following table shows the approximate income distribution for Nicaragua, Haiti, and Croatia 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
You cannot tell from this table which country has the least total income.
CUMULATIVE PERCENTAGE OF INCOME
On the following graph, plot the Lorenz curves for the three countries. Plot Nicaragua's Lorenz curve using the green points (triangle symbol), Haiti's
Lorenz curve using the blue points (circle symbol), and Croatia's Lorenz curve using the purple points (diamond symbol). Line segments will
automatically connect the points.
100
80
60
40
20
Percentage of Total Income, 2011
Haiti
Croatia
Nicaragua
6
2
8
10
6
13
14
10
17
21
18
22
49
64
40
0
0
20
60
80
CUMULATIVE PERCENTAGE OF HOUSEHOLDS
40
100
A
Nicaragua
Haiti
Croatia
(?)
has the least income inequality. (Hint: You may want to refer to your previous answers.)

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