Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
Textbook Question
Chapter 15, Problem 7SCQ

Table 15.9 shows the share of income going to each quintile of the income distribution for the United Kingdom in 1979 and 1991. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. How did inequality in the United Kingdom shift over this time period? How can you see the patterns in the quintiles in the Lorenz curves?

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The table below shows the share of income going to each quintile of the income distribution for a nation in 1950 and 2000. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. The purple line represents 1950. The green line represents 2000. Share of income received 1950 2000 Bottom 20% 10% 5% Bottom 40% 30% 15% Bottom 60% 50% 35% Bottom 80% 75% 60% All 100% |100% 100% Provide your answer below: 110 100 -90 -80 (90, f0) (100, 70) 60 Perfect Equality (100,50) Year 2000 50 (80,50 Year 1950/ 40 (70, 30) 30 (50, 20) 20 (90, 20) 10 (60, 10) 60 80 Income Quintiles 20 40 100 -10 Cumulative Share of Income
The table below shows the share of income going to each quintile of the income distribution for a nation in 1955 and 2015. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve.  The purple line represents 1955. The green line represents 2015.
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