*1 The table shows shares of original (or market) income in the United States in 2002. Households...

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*1 The table shows shares of original (or market) income in the United States in 2002. Households Income (percentage) (per cent of total) Lowest 20 1 Second 20 7 Third 20 14 Fourth 20 23 Highest 20 55 a Draw a Lorenz curve for the United States and compare it with the Lorenz curve for the United Kingdom shown in Figure 18.3. b Which country has the higher Gini coefficient? c Was US income distributed more equally or less equally than UK income? d Can you think of some reasons for the differences in the distribution of income in the United States and United Kingdom?

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Economics

ISBN: 9781509540235

6th Edition

Authors: Michael Parkin, Melanie Powell, Kent Matthews

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