Map Sapling Learning macmillan learning For the following two questions, use the

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Map Sapling Learning macmillan learning For the following two questions, use the provided Lorenz Curve Lorenz Curve If the economy's income were distributed according to the 'Equality' line, what would the Gini Coefficient be? 100 80 60 Equality O Infinity % of income 40 20 0 If the economy's income were distributed according to the 'A' line, how much of the economy's income is earned by the third 0 20 80 100 % of families quintile of families? O 40% O 60% 100% 20% Previous Give Up & View Solution Check Answer Next Exit Hint

Explanation / Answer

1> 0

In equality line, everyone has the same income, thus the Gini coefficient is zero.

2> 20%

The third quantile is the income group between 40 and 60%. They earn (40-20)%=20% of the total income.

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