True or False (and explain): When the Lorenz Curve is a straight diagonal line (at 45 degrees), we have complete equality in the income distribution and the Gini Coefficient will be exactly equal to 1.
True or False (and explain): When the Lorenz Curve is a straight diagonal line (at 45 degrees), we have complete equality in the income distribution and the Gini Coefficient will be exactly equal to 1.
Chapter15: The Distribution Of Income And Poverty
Section: Chapter Questions
Problem 2WNG
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Transcribed Image Text:True or False (and explain): When the Lorenz Curve is a straight diagonal line
(at 45 degrees), we have complete equality in the income distribution and the
Gini Coefficient will be exactly equal to 1.
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