Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer the following questions in the image and make the graph The table below shows the share of income received by each fifth of

image text in transcribed

please answer the following questions in the image and make the graph

image text in transcribed
The table below shows the share of income received by each fifth of income earners, from lowest to highest, in three hypothetical countries. 1 2 3 4 5 (lowest) (highest) Country 1 9 18 25 41 Country 2 4 9 18 24 45 Country 3 12 19 24 36 a. Calculate the cumulative distribution of income among the five groups of income earners in each country. Enter your responses below rounded to a whole number. 2 3 4 5 (lowest) (highest) Country 1 Country 2 Country 3 b. Draw a graph showing the three countries' Lorenz curves. Plot 6 points for each curve, Including the origin point (0, 0), for a total of 18 points plotted below. To manually enter plotting coordinates click on a line segment between 2 points then click on the widget icon to bring up the curve properties box. Lorenz Curve For three countries 100 Tools n n 80 Country 1 Country 2 60 n Country 3 Cumulative Share of Income (%) 40 20 20 40 60 80 100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cambridge International AS And A Level Economics Coursebook

Authors: Colin Bamford, Susan Grant

3rd Edition

1107679516, 978-1107679511

More Books

Students also viewed these Economics questions