The Figure below shows the Lorenz curves for Islandia and Syldavia. Use the figu

Question

The Figure below shows the Lorenz curves for Islandia and Syldavia. Use the figure to answer questions 13 through 15.

Question 13 Which country has the more unequal distribution of income?

a. Islandia

b. Syldavia

c. They may have the same absolute income distribution although their relative income distribution is different.

d. There is insufficient information to answer the question.

Question 14 If area X = 2,060, area Y = 240, and area Z = 2,700, calculate the Gini coefficient for Islandia.

a. 0.41

b. 0.45

c. 0.70

d. 0.76

Question 15 If area X = 2,060, area Y = 240, and area Z= 2,700, calculate the Gini coefficient for Syldavia.

a. 0.05

b. 0.12

c. 0.46

d. 0.85

Explanation / Answer

13. Syldavia has more unequal distribution than Islandia as this Syldavia's wealth distribution curve is more far away from the mean line.

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