2 The table shows income shares in Australia and the US. a Calculate the cumulative distribution of...

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2 The table shows income shares in Australia and the US.

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a Calculate the cumulative distribution of income for Australia and draw the Australian Lorenz curve.
b In which country is the income distribution more unequal: Australia or the United States?

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Economics

ISBN: 9781118150122

10th European Edition

Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews

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Question Posted: Nov 06, 2024 07:00 AM

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2 The table shows income shares in Australia and the US. a Calculate the cumulative distribution of income for Australia and draw the Australian Lorenz curve. b In which country is the income...
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2 The table shows income shares in Australia and the US. a Calculate the cumulative distribution of...

Question:

Households (quintile) Lowest 20 per cent Australia Income US (percentage of total) 8 3 Second 20 per cent 13 9 Middle 20 per cent 18 15 Next highest 20 per cent 23 23 Highest 20 per cent 38 50

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Economics

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