Consider a hypothetical economy with ten people, eight of whom have income of $30,000, one of whom

Question:

Consider a hypothetical economy with ten people, eight of whom have income of $30,000, one of whom has income of $100,000 and one of whom has income of $500,000. Sketch the Lorenz curve for this income Describe the by comparing the Lorenz curve to the line of perfect equality. Can you approximate the Gini coefficient? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...