Asked by Kevin Rodrigues on Jun 10, 2024
Verified
An ________ distribution of income would yield a ________ curve that was a 45-degree line between 0 and 100%.
A) equal; Gini
B) unequal; Gini
C) equal; Lorenz
D) unequal; Lorenz
Equal Distribution
The sharing of resources, wealth, or opportunities among all members of a society or group in a way that is considered fair and equitable.
Lorenz Curve
A graphical representation of income or wealth distribution within an economy, indicating inequality.
45-degree Line
describes a line usually used in economics and other disciplines, where every point on it has equal x and y coordinates, often used as a benchmark in Keynesian cross diagrams.
- Illustrate the framework of the Lorenz Curve and discuss its consequences for the allocation of income.
- Investigate differing income distribution methods and their effects on equitable treatment in society.
Verified Answer
AC
Akilah ClarkeJun 11, 2024
Final Answer :
C
Explanation :
An equal distribution of income would result in a Lorenz curve that is a straight 45-degree line, indicating perfect equality in income distribution.
Learning Objectives
- Illustrate the framework of the Lorenz Curve and discuss its consequences for the allocation of income.
- Investigate differing income distribution methods and their effects on equitable treatment in society.