The U.S. Census Bureau reported that in 2008 the median household income fell 3.6%. The share of

Question:

The U.S. Census Bureau reported that in 2008 the median household income fell 3.6%. The share of people living in poverty rose to 13.2% in 2008 from 12.5% in 2007. Only households led by people aged 65 or older enjoyed income gains—a 1.2% increase.
a. What does the information in this news report tell you about changes in the of income in 2008?
b. What additional information would you need to know how the changes described changed the U.S. Lorenz curve? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...