Asked by Rhonda Golden on Jun 26, 2024
Verified
The degree of inequality in the distribution of income in an economy is depicted in a(n)
A) Lorenz curve.
B) Phillips curve.
C) Engels curve.
D) indifference curve.
Lorenz Curve
An illustrated chart that maps out the distribution of wealth or income among individuals in a society, revealing disparities.
Income Inequality
The unequal distribution of income among members of a society.
- Gain an understanding of the elementary notions of income distribution and the employment of Lorenz curves alongside Gini ratios for the evaluation of income inequality.
Verified Answer
BF
Brigith FloresJul 02, 2024
Final Answer :
A
Explanation :
The Lorenz curve is a graphical representation used to show the distribution of income or wealth within an economy, illustrating the degree of inequality.
Learning Objectives
- Gain an understanding of the elementary notions of income distribution and the employment of Lorenz curves alongside Gini ratios for the evaluation of income inequality.