Figure 18-3 Figure 18-3 shows the Lorenz curve for a hypothetical country.
-Refer to Figure 18-3.The second highest 20 percent of households
A)earn 24 percent of the society's total income.
B)earn 28 percent of the society's total income.
C)earn 42 percent of the society's total income.
D)earn 72 percent of the society's total income.

Question

Figure 18-3  Figure 18-3 shows the Lorenz curve for a hypothetical country.
-Refer to Figure 18-3.The second highest 20 percent of households
A)earn 24 percent of the society's total income. 
B)earn 28 percent of the society's total income. 
C)earn 42 percent of the society's total income. 
D)earn 72 percent of the society's total income.

Quizplus · Accepted Answer

The second highest 20 percent of households typically earn around 24 percent of the society's total income, based on common income distribution patterns.

Figure 18-3 Figure 18-3 Shows the Lorenz Curve for a Hypothetical