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
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 7SCQ: Table 15.9 shows the share of income going to each quintile of the income distribution for the...
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