The table shows the distribution of income in the Australia Complete the column of the table that records the cumulative percentages of income in Australia received by the cumulative percentages of households. Income (percentage) 8 Households Lowest 20 percent Second 20 percent Third 20 percent Fourth 20 percent 23 Highest 20 percent 38 13 18 Cumulative percentage of Households Income Lowest 20 Lowest 40 Lowest 60 Lowest 80 100 100.0 The graph shows the Lorenz curve for the United States. Draw the line of equality Draw a point to show the cumulative percentage of income received by the lowest 40 percent of Australian households Label it 1. Draw a point to show the cumulative percentage of income received by the lowest 80 percent of Australian mouseholds. Label it 2 Draw the Lorenz curve for Australia. Label it Based on the data provided, which country has the more unequal income distribution? OA Australia OB. Neither. They have the same degree of inequality. OC, The United States OD. It is impossible to tell without more information 100 90- 80- 70- 60- 50- 40- 304 20- 10- Cumulative percentage of income United States 0 10 20 30 40 50 60 70 80 90 100 Cumulative percentage of households >>> Draw only the objects specified in the question O OU
The table shows the distribution of income in the Australia Complete the column of the table that records the cumulative percentages of income in Australia received by the cumulative percentages of households. Income (percentage) 8 Households Lowest 20 percent Second 20 percent Third 20 percent Fourth 20 percent 23 Highest 20 percent 38 13 18 Cumulative percentage of Households Income Lowest 20 Lowest 40 Lowest 60 Lowest 80 100 100.0 The graph shows the Lorenz curve for the United States. Draw the line of equality Draw a point to show the cumulative percentage of income received by the lowest 40 percent of Australian households Label it 1. Draw a point to show the cumulative percentage of income received by the lowest 80 percent of Australian mouseholds. Label it 2 Draw the Lorenz curve for Australia. Label it Based on the data provided, which country has the more unequal income distribution? OA Australia OB. Neither. They have the same degree of inequality. OC, The United States OD. It is impossible to tell without more information 100 90- 80- 70- 60- 50- 40- 304 20- 10- Cumulative percentage of income United States 0 10 20 30 40 50 60 70 80 90 100 Cumulative percentage of households >>> Draw only the objects specified in the question O OU
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 6SCQ: A group 0f 10 people have the following annual incomes:...
Related questions
Question
Transcribed Image Text:The table shows the distribution of income in the Australia
Complete the column of the table that records the cumulative percentages of income in Australia received by the
cumulative percentages of households.
Cumulative
percentage of
Income
Households
Lowest 20 percent
(percentage) Households Income
8
Lowest 20
13
Lowest 40
Second 20 percent
Third 20 percent
18
Fourth 20 percent
23
Highest 20 percent 38
Lowest 60
Lowest 80
100
100.0
The graph shows the Lorenz curve for the United States
Draw the line of equality
Draw a point to show the cumulative percentage of income received by the lowest 40 percent of Australian
households Label it 1,
Draw a point to show the cumulative percentage of income received by the lowest 80 percent of Australian
households. Label it 2
Draw the Lorenz curve for Australia. Label it
Based on the data provided, which country has the more unequal income distribution?
OA Australa
OB. Neither. They have the same degree of inequality.
OC, The United States
OD. It is impossible to tell without more information
100
90+
80-
70-
60
50
40-
304
20-
10-
0
Cumulative percentage of income
United States
10 20 30 40 50 60 70 80 90 100
Cumulative percentage of households
>>>Draw only the objects specified in the question
odu
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning