FIGURE 13- 1
-Refer to Figure 13- 1.On the Lorenz curve shown in the diagram,

Name: FIGURE 13- 1 -Refer to Figure 13- 1.On the Lorenz curve shown in the diagram,
Brand: Quizplus
Rating: 4.9 (54 reviews)

Question

FIGURE 13- 1 
-Refer to Figure 13- 1.On the Lorenz curve shown in the diagram,

Quizplus · Accepted Answer

The Lorenz curve shows the cumulative share of income received by each percentile of households. The curve in the diagram shows that the bottom 20% of households receive about 3% of total income, while the top 20% of households receive almost 40% of total income. Therefore, D is the correct answer as it accurately describes the graph.