The Lorenz curve demonstrates inequality visually, in that the _______ linear the curve, the _______ inequality exists. Multiple Choice more; less more; more less; less None of these are true.

The Lorenz curve demonstrates inequality visually, in that the _ linear the curve, the _ inequality exists. Multiple Choice more; less more; more less; less None of these are true.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter17: Income, Poverty, And Health Care

Section: Chapter Questions

Problem 2P

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The graph shown below illustrates the Lorenz Curves in Country X and Country Y in 2021. Note that the Lorenz Curve for Country Y starts out below but eventually intersects and passes above the Lorenz Curve for Country X. These curves provide a graphical illustration of the _____________ in each country. CFI 1 0 B scope of government redistribution distribution of income level of welfare benefits poverty rate "County X" Lorenz Curve -"County Y" Lorenz Curve CFP
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An economy's Lorenz Curve reveals that an economy's highest income quintile has 65% of the economy's income while the lowest income quintile only has 5% of the economy's income. Solely based on this Lorenz Curve, is the distribution of income fair? Why or why not?
I need help with the first three sections please.
A Lorenz curve is a graph whose axes measure the: a. total amount of income in dollars on one axis and the total number of individuals or families receiving that income or a lower one on the other. b. percentage of people (10 percent, 20 percent, etc.) on one axis and the percentage of total income received by the lowest 10 percent, the lowest 20 percent, etc., on the other. c. number of individuals or families receiving a certain income on one axis and the percentage of the total population represented by that number on the other. d. number of individuals or families in different occupations on one axis and the median income received in that occupation on the other. e. income classes (e.g., $0 to $1999 and $2000 to $3999) on one axis and the percentage of individuals or families in each such income class on the other.
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