Use the chart shown to answer the question.
Comparing curves 1, 2 and 3, which illustrates the greatest amount of income inequality?
Group of answer choices
curve 3 (the highest curve)
curve 1 (the lowest curve)
curve 2 (the middle curve)
they all illustrate equal amounts of income inequality
Homework Answers
Answer
Curve 1
Explanation:
The curves given are referred as Lorenz curve,
Which graphically depicts income inequality.
The 45 degree line at the middle represents perfect income equality, which means that any percentage of population holds the same percentage of income or wealth. Here it is clear that 40% of household occupies 40% of income, 60% of household occupies 60% of income and so on.
Any deviation from this line represents inequality. Far from this line represents more inequality. Hence, curve1 represents greatest amount of inequality.
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Computer's answer now shown above. You are
correct.
Your receipt no. is 156-2686
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to 3 decimal places.] 0.354
Computer's answer now shown above. You are
correct.
Your receipt no. is 156-2919
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