Concept explainers
Learning. Repeat Problem 91 if
91. Distribution of wealth. Lorenz curves also can provide a relative measure of the distribution of a country’s total assets. Using data in a report by the U.S. Congressional Joint Economic Committee, an economist produced the following Lorenz curves for the distribution of total U.S. assets in 1963 and in 1983:
Find the Gini index of income concentration for each Lorenz curve and interpret the results.
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