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Use the two different distributions of income in the table below to answer the questions f follow. a. Use the grid below and graph the two Lorenz curves. b. Which curve has a more equal distribution?

Use the two different distributions of income in the table below to answer the questions f follow. a. Use the grid below and graph the two Lorenz curves. b. Which curve has a more equal distribution?

Microeconomics: Principles & Policy
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter20: Poverty, Inequality, And Discrimination
Section: Chapter Questions
Problem 5DQ
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quintile cumulativeshare of households a cumulative share of income b cumulative share of income
poorest   10.5   2.5  
2nd   13.2   6.8  
middle   21.6   13.9  
4th   26.4   24.2  
richest   28.3   52.6  
Use the two dıfferent distributions of income in the table below to answer the questions that follow. a. Use the grid below and graph the two Lorenz curves. b. Which curve has a more equal distribution? c. Are these distributions more or less equal than that for the United States today? Cumulative Cumulative Cumulative Share of Share of Share of Quintile Households A Income В Income Poorest 10.5 2.5 Second 13.2 6.8 Middle 21.6 13.9 Fourth Richest 26.4 24.2 28.3 52.6
Transcribed Image Text:Use the two dıfferent distributions of income in the table below to answer the questions that follow. a. Use the grid below and graph the two Lorenz curves. b. Which curve has a more equal distribution? c. Are these distributions more or less equal than that for the United States today? Cumulative Cumulative Cumulative Share of Share of Share of Quintile Households A Income В Income Poorest 10.5 2.5 Second 13.2 6.8 Middle 21.6 13.9 Fourth Richest 26.4 24.2 28.3 52.6
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