2. Constructing a Lorenz curve from income shares data The following table shows the approximate income distribution for Colombia, Ukraine, and Turkey in 2011. In particulac, it shows the income shares of each quintile of the income distribution. Income Group Lowest quintile Second quintile Third quintile Fourth quintile Highest quintile Percentage of Total Income, 2011 Colombia Ukraine Turkey 2 9 5 10 14 21 50 6 11 18. 63 14 17 22 38 has the most total income. d' On the following graph, plot the Lorenz curves for the three countries. Plot Colombia's Lorene curve using the green points (triangle symbol), Ukraine's orenz curve using the blue points (circle symbol), and Turkey's Lorenz curve using the purple points (diamond symbol) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
2. Constructing a Lorenz curve from income shares data The following table shows the approximate income distribution for Colombia, Ukraine, and Turkey in 2011. In particulac, it shows the income shares of each quintile of the income distribution. Income Group Lowest quintile Second quintile Third quintile Fourth quintile Highest quintile Percentage of Total Income, 2011 Colombia Ukraine Turkey 2 9 5 10 14 21 50 6 11 18. 63 14 17 22 38 has the most total income. d' On the following graph, plot the Lorenz curves for the three countries. Plot Colombia's Lorene curve using the green points (triangle symbol), Ukraine's orenz curve using the blue points (circle symbol), and Turkey's Lorenz curve using the purple points (diamond symbol) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter20: Income Inequality And Poverty
Section: Chapter Questions
Problem 5PA
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