The table below shows the distribution of income in the U.S. in the year 1978.Table 19.1

-If a Lorenz curve is drawn using the data in Table 19.1, it will:

Question

The table below shows the distribution of income in the U.S. in the year 1978.Table 19.1
 
-If a Lorenz curve is drawn using the data in Table 19.1, it will:

Quizplus · Accepted Answer

The Lorenz curve represents the distribution of income or wealth within an economy. When it bows down below the line of perfect equality, it indicates that there is inequality in the distribution, with a larger share of income or wealth concentrated among a smaller percentage of the population.

The Table Below Shows the Distribution of Income in the U.S