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Use the Table Below to Answer the Questions

Question 31

Essay

Use the table below to answer the questions.
(a) Draw a Lorenz curve for countries A, B, and C in the table below.
(b) Which country has the least equal distribution of income? The most equal distribution?
 Percent of Income  Quirtile  A  B  C  Lowest 8.510.22.3 fifth  Second 10.115.26.1 fifth  Third fifth 12.518.312.3 Fouth fifth 15.123.118.1 Highest 53.833.261.2 fifth \begin{array} { l l l l } & { \text { Percent of Income } } \\\text { Quirtile } & \text { A } & \text { B } & \text { C } \\\hline \text { Lowest } & 8.5 & 10.2 & 2.3 \\\text { fifth } & & & \\\text { Second } & 10.1 & 15.2 & 6.1 \\\text { fifth } & & & \\\text { Third fifth } & 12.5 & 18.3 & 12.3 \\\text { Fouth fifth } & 15.1 & 23.1 & 18.1 \\\text { Highest } & 53.8 & 33.2 & 61.2 \\\text { fifth } & & &\end{array}  Use the table below to answer the questions. (a) Draw a Lorenz curve for countries A, B, and C in the table below. (b) Which country has the least equal distribution of income? The most equal distribution?   \begin{array} { l l l l }  & { \text { Percent of Income } } \\ \text { Quirtile } & \text { A } & \text { B } & \text { C } \\ \hline \text { Lowest } & 8.5 & 10.2 & 2.3 \\ \text { fifth } & & & \\ \text { Second } & 10.1 & 15.2 & 6.1 \\ \text { fifth } & & & \\ \text { Third fifth } & 12.5 & 18.3 & 12.3 \\ \text { Fouth fifth } & 15.1 & 23.1 & 18.1 \\ \text { Highest } & 53.8 & 33.2 & 61.2 \\ \text { fifth } & & & \end{array}

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(a) The Lorenz curves are show...

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