Asked by Annaliet Martinez on Jul 13, 2024
Verified
Which statement is true?
A) Income is more evenly distributed along curve X than curve Y.
B) Income is more evenly distributed along curve Y than curve X.
C) Income is equally distributed along curves X and Y.
D) It is impossible to determine income distribution by observing these curves.
Income Distribution
The way in which a nation’s total GDP is spread amongst its population, impacting the standard of living and degree of inequality among the populace.
- Master the theoretical underpinnings and practical use of Lorenz curves in portraying income distribution patterns.
Verified Answer
DR
Dejan RadojevicJul 15, 2024
Final Answer :
B
Explanation :
Curve Y being closer to the line of perfect equality indicates a more even distribution of income compared to curve X.
Learning Objectives
- Master the theoretical underpinnings and practical use of Lorenz curves in portraying income distribution patterns.