The table shows money income shares in the United States in 2001. Draw a U.S. Lorenz curve

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The table shows money income shares in the United States in 2001. image text in transcribed

Draw a U.S. Lorenz curve in 2001. Was the U.S.
distribution of income more equal in 2001 than in 2019 (see p. 489 )? Explain your answer.

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:02 PM

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The table shows money income shares in the United States in 2001. Draw a U.S. Lorenz curve

Question:

Households (quintile) Lowest Second Third Fourth Highest Money income (percentage of total) 3.5 8.8 14.5 23.1 50.1

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SOLUTION Here are the steps to solve this problem 1 Draw the Lorenz curve for the US income distribu...View the full answer

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