Figure 21.1 : The above figure shows the Lorenz curve for a hypothetical country.
-Refer to Figure 21.1. The middle 20% of the population earn ________ of total income.

Question

Figure 21.1 :  The above figure shows the Lorenz curve for a hypothetical country.
-Refer to Figure 21.1. The middle 20% of the population earn ________ of total income.

Quizplus · Accepted Answer

The middle 20% of the population, often referred to as the middle quintile in income distribution, typically earns a proportion of total income that is less than their population share, indicating income inequality. In many economies, this figure is significantly less than 20%, with 16% being a realistic representation for the middle quintile's share of total income, reflecting the skewness towards the higher income brackets.

Figure 211 : the Above Figure Shows the Lorenz Curve