Asked by Meira Myers on Jun 02, 2024
Verified
The Lorenz curve shows the distribution of
A) wealth.
B) income.
C) poverty.
D) jobs.
E) unemployment.
Lorenz Curve
A graphical representation of income or wealth distribution within a population, often used to illustrate economic inequality.
Distribution Of Income
How a nation’s total earnings are spread among its population, impacting wealth inequality.
Wealth
Anything that has value because it produces income or could produce income.
- Understand the principle and analytical application of Lorenz curves in depicting the distribution of income.
Verified Answer
JR
Juancho ReynalJun 07, 2024
Final Answer :
B
Explanation :
The Lorenz curve is a graphical representation of the distribution of income. It shows the cumulative percentage of the total income received by successive percentages of households, plotted against the cumulative percentage of households.
Learning Objectives
- Understand the principle and analytical application of Lorenz curves in depicting the distribution of income.