Draw the Lorenz curves for the income distribution in Australia and in South Africa. Is income distributed
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Draw the Lorenz curves for the income distribution in Australia and in South Africa. Is income distributed more equally or less equally in South Africa than in Australia?
The table shows shares of income in Australia.
Transcribed Image Text:
Households (quintile) Lowest Second Third Fourth Highest Income share (percentage of total) 7 13 18 24 38
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Here is the Lorenz curve for Australia based on the income share data you provided This graph il...View the full answer
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