Table 1 shows the distribution of market income in an economy and Table 2 shows how the
Question:
Table 1 shows the distribution of market income in an economy and Table 2 shows how the government taxes and redistributes income.
1. Calculate the income shares of each quintile after taxes and benefits.
2. Draw this economy’s Lorenz curves before and after taxes and benefits.
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1 Table 3 shows that to obtain the income after taxes and benefits multiply each quintiles mark...View the full answer
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