The greater the area between the Lorenz curve and the diagonal in the Lorenz curve diagram...
The greater the area between the Lorenz curve and the diagonal in the Lorenz curve diagram the:
A: smaller is the Gini ratio and the greater is the degree of income inequality
B: larger is the Gini ratio and the greater is the degree of income inequality
C: smaller is the Gini ratio and the lesser is the degree of income inequality
D: larger is the Gini ratio and the lesser is the degree of income inequality
Homework Answers
ans is B
The greater the area between the Lorenz curve and the diagonal in the Lorenz curve then ginni coefficient will be larger and higher will be the income inequality.
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The greater the area between the Lorenz curve and the diagonal
in the Lorenz curve diagram...
or Question 7 please refer to the chart below of the Lorenz Curve for Sweden and...
or Question 7 please refer to the chart below of the Lorenz Curve for Sweden and the United States for 2014: Percent of Total Income - Belgium Australia Percent of Total Population 7) Based on the table above, which of the following is true; A) Belgium has a greater degree of Income Inequality B) Australia has a lower Gini-Coefficient C) Belgium has a higher Gini-Coefficient D) Australia has a greater degree of Income Inequality
QUESTION 1 Between 1774 and 1973, the distribution of wealth in the United States became more...
QUESTION 1 Between 1774 and 1973, the distribution of wealth in the United States became more equal as measured by the Gini coefficient slightly more unequal as measured by the Gini coefficient perfectly unequal perfectly equal QUESTION 2 When the Gini coefficient increases, income inequality increases income equality increases the slope of the Lorenz curve increases everyone is made better off QUESTION 3 An income distribution becomes more unequal as the Lorenz curve moves toward the bottom right corner of...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient 1. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? I i. What does a high number indicate? b. (Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 0 100...
1) Figure 2 below is an image of a Lorenz curve.
1) Figure 2 below is an image of a Lorenz curve. a. When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 2) (10) Describe the inequality in income and wealth between countries, and explain whether each has grown or shrank over the past 50 years. Why...
Please help 0/1 pts If the area between the Lorenz Curve and the perfect inequality line...
Please help
0/1 pts If the area between the Lorenz Curve and the perfect inequality line is larger in country Y than in country Z the following are ALWAYS true (NOTE: choose all that apply) The area A in the Figure of slide 9 is smaller for country Y than for country Z The share of poor people is larger in country Y than in country Z Inequality is higher in country Z Inequality is higher in country Y
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz...
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve Percentage of Population...
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz...
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? Figure 2 2) (10) Describe the inequality in income and wealth between...
Lorenz Curve The United Nations reports data on income distribution for different countries as a ratio...
Lorenz Curve The United Nations reports data on income distribution for different countries as a ratio of the income of the richest 10% to the income of the poorest 10%. If the ratio for Japan is 4.5 and the ratio for the United States is 15.9, which of the following statements is correct? a) This ratio is the slope of the Lorenz curve for each country. b) This is the same thing as the Gini coefficient. c) The distribution of...
or Question 7 please refer to the chart below of the Lorenz Curve for Sweden and the United States for 2014: Percent of Total Income - Belgium Australia Percent of Total Population 7) Based on the table above, which of the following is true; A) Belgium has a greater degree of Income Inequality B) Australia has a lower Gini-Coefficient C) Belgium has a higher Gini-Coefficient D) Australia has a greater degree of Income Inequality
QUESTION 1 Between 1774 and 1973, the distribution of wealth in the United States became more equal as measured by the Gini coefficient slightly more unequal as measured by the Gini coefficient perfectly unequal perfectly equal QUESTION 2 When the Gini coefficient increases, income inequality increases income equality increases the slope of the Lorenz curve increases everyone is made better off QUESTION 3 An income distribution becomes more unequal as the Lorenz curve moves toward the bottom right corner of...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient 1. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? I i. What does a high number indicate? b. (Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 0 100...
Please help
0/1 pts If the area between the Lorenz Curve and the perfect inequality line is larger in country Y than in country Z the following are ALWAYS true (NOTE: choose all that apply) The area A in the Figure of slide 9 is smaller for country Y than for country Z The share of poor people is larger in country Y than in country Z Inequality is higher in country Z Inequality is higher in country Y
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve Percentage of Population...
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