The tables show the (approximate) distributions of money income in the United States and Canada United States Cumulative percentage of Households Lowest 40 Lowest 80 Income 12 50 Draw the line of equality Draw the Lorenz curve for the United States Canada Cumulative percentage of Households Lowest 40 Lowest 80 Income 16 56 Draw a point to show the cumulative percentage of income received by the lowest 80 percent of households Label it U.S. B. The United States OC. It is impossible to tell without more information OD. Neither. They have the same degree of inequality Draw the Lorenz curve for Canada. Draw a point to show the cumulative percentage of income received by the lowest 40 percent of households Label it Canada Based on this data, which country has the more unequal distribution? OA Canada

The tables show the (approximate) distributions of money income in the United States and Canada United States Cumulative percentage of Households Lowest 40 Lowest 80 Income 12 50 Draw the line of equality Draw the Lorenz curve for the United States Canada Cumulative percentage of Households Lowest 40 Lowest 80 Income 16 56 Draw a point to show the cumulative percentage of income received by the lowest 80 percent of households Label it U.S. B. The United States OC. It is impossible to tell without more information OD. Neither. They have the same degree of inequality Draw the Lorenz curve for Canada. Draw a point to show the cumulative percentage of income received by the lowest 40 percent of households Label it Canada Based on this data, which country has the more unequal distribution? OA Canada

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

The tables show the (approximate) distributions of money income in the United States and
Canada
United States
Cumulative percentage of
Households Income
Lowest 40
Lowest BO
12
50
Canada
Cumulative percentage of
Households Income
Lowest 40
16
Lowest Bo
56
Draw the line of equality
Draw the Lorenz curve for the United States
Draw a point to show the cumulative percentage of income received by the lowest 80 percent of
households. Label it U.S.
Draw the Lorenz curve for Canada.
Draw a point to show the cumulative percentage of income received by the lowest 40 percent of
households Labelit Canada
Based on this data, which country has the more unequal distribution?
OA. Canada
B. The United States
OC. It is impossible to tell without more information
OD. Neither. They have the same degree of inequality
100
90-
00
70-
60-
60-
40-
30-
20
10
Cumulative percentage of income
10 20 30 40 50 60 70 80 90 100
Cumulative percentage of households
>>>Draw only the objects specified in the question.
G

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