If a country had perfect income equality what would the Lorenz curve look like?

Q: Why is the Lorenz curve curvilinear? How is the curve currently changing?

A: Lorenz curve is a diagrammatical way to measure income inequality. It is used in economic research…

Q: Draw, on the same graph, a Lorenz curve representing i. Perfect income equality ii. Perfect income…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: what knowledge about poverty severity we gain from looking at the poverty gap index and poverty head…

A: Poverty is when the household or individual lacks the basic resources and income, and thus basic…

Q: What types of poverty policies have proved effective?

A: Definition: Poverty is a state or condition wherein an individual comes up short on the finances and…

Q: As income transfer programs accompanying the War on Poverty increased beginning in the latter half…

A: The income transfer payment is the benefit to the people who lays below a certain level of income.…

Q: What is the recent policies for Health, Education and Income Generation which do you think can…

A: ▪︎Recent Health policy - Health authorities in the United States draught legislation to safeguard…

Q: What are some reasons why a certain degree of inequality of income would be expected in a market…

A: Income inequality describes that how unevenly the income is distributed in the economy. Uneven…

Q: can you explain what generational poverty is and how it can be solved?

A: Generational poverty is very bad situation of the people who are living in a poverty situation at…

Q: As the Lorenz Curve gets closer to the line of absolute equality, the ________. a. the higher is the…

A: "Lorenz curve represents the graphical measurement of income or wealth inequality within a…

Q: The term obtained by dividing the area of inequality shown by a Lorenz curve by the area of the…

A: Gini Coefficient It is the area below the line of perfect equality minus the area below the Lorenz…

Q: How can you use this document to argue that the US should reduce economic inequality?

A: Economic inequality means that there is unequal distribution of wealth/income and opportunity among…

Q: What is the difference between income inequality and wealth inequality? Can a household with a high…

A: The economic wealth is the procession of the ability to enjoy the small, ordinary pleasure of life.…

Q: How would a utilitarian, a liberal, and a libertarian determine how much income inequality is…

A: Inequality is how income and other factors are distributed unevenly through a society. The lower the…

Q: List the economic problems that produce inequality?

A: Inequality in the economy is produced when there comes a difference in the distribution of wealth,…

Q: What is measured on the two axes of a Lorenz curve?

A: Lorenz curve is a diagrammatical way to measure income inequality. It is used in economic research…

Q: Which number line represents the solution to the inequality below? + 8 > 15 A. 32 33 34 35 36 37 38…

A: Given: x5+8≥15

Q: How is inequality bad for the economy?

A: Economy is a combination of household and business who deal in the buying and selling of goods and…

Q: How Lorenz curve helps you to measure distribution of income among nations?

A: The graph which plots on the horizontal axis the percentiles of the population according to wealth…

Q: Using the Lorenz Curve, answer the following questions. . .   Approximately what percentage of the…

A: A Lorenz curve shows the spread of distribution. It is used to show inequality of distribution. The…

Q: Which of these is true about the Lorenz curve? a. allows us to rank all countries by the degree of…

A: In economics, there are different concepts used to explain or show the nature of economic variables,…

Q: Explain how income inequality in the United States is measured and described.

A: Income inequality refer to the gap or difference in the reference of income paid to in individual by…

Q: Why is there so much wealth inequality?

A: Wealth refers to the assets held by a person which includes property and financial assets. Wealth…

Q: When was (is) someone more likely to be born into poverty? Today or in the past?

A: Poverty is a social-evil that forces the economy to stay inside the realm of poverty making it…

Q: as a student in college, what can be done to address income inequality? Explain

A: As a college student,toaddress income inequality,protest can be made against it in the form of…

Q: Equity is not equality but the concept of

A: Equality is the impact of treating each as without distinction; every individual is considered…

Q: The degree of inequality in the distribution of income in an economy is depicted in aln O Lorenz…

A: The Lorenz curve is a representation of the distribution of a metric – consumption, wages,…

Q: Suppose that the Lorenz Curve for country A is given by YA = x².2 and for country B is yB = 0.3x² +…

A: In this question the Lorentz curve is given for the two different countries, the Lorentz curve…

Q: How does the Gini ratio relate to the Lorenz curve? Why can’t the Gini ratio exceed 1? What is…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Below is a Lorenz Curve for a given country.  Suppose its government cuts spending on Medicaid,…

A: Lorenz curve: It refers to the curve which shows the income inequality within the economy. It is a…

Q: The closer the Lorenz curve for income is to the line of equality, the larger is the nation's total…

A: Lorenz curve is a line which shows income distortion of households which is on x axis and cumulative…

Q: Which of these is true of the Lorenz curve? The further away it is from the 45 degree line the more…

A: The curve that depicts the degree of wealth or income inequality in the economy is being known as…

Q: Perfect inequality in the distribution of income can be exhibited in reality.  52. Holding all other…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: What factors have contributed to increased income inequality since 1975?

A: ncome inequality has increased within the us over the past 30 years, as income has flowed unequally…

Q: The two figures below show trends in poverty rates and inequality for the U.S. (a) What are the…

A: (a) What are the trends in poverty and inequality from 2010 to 2019? As per the figure the trends…

Q: How has the definition of educational inequalitychanged?

A: Educational inequality refers to the unequal allocation of academic resources to socially…

Q: Discuss the concept of the “optimal amount of inequality.” What are some of the practical problems…

A: Optimal amount of inequality is alluded to the level endurable degree of inequality in the country.…

Q: What is inequality

A:

Q: What is income inequality?

A: The discrimination is the indication of treating people differently based on their gender, caste,…

Q: In recent years, as the gap between the rich and the poor has increased, the Lorenz curve has

A: A Lorenz curve is a graphical representation of the distribution of income or wealth within a…

Q: How does education affect income inequality?

A: In economics, income inequality is defined as a significant disparity in the distribution of income…