Given the Data in the Table Below, Draw the Lorenz

question 172

Essay

Given the data in the table below, draw the Lorenz curve before and after an income tax. Is this tax progressive or regressive?

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Definitions:

Seafloor Spreading

The process by which new oceanic crust is formed at mid-ocean ridges and slowly moves away from them, caused by the divergence of tectonic plates.

Rifting

The process of the Earth's crust being pulled apart, leading to the formation of rift valleys and, eventually, new ocean basins.

Hurricane Sandy

A tropical cyclone that hit the Caribbean and United States in October 2012, causing widespread destruction and flooding, particularly in New York and New Jersey.

Atlantic Coast

The eastern boundary of the North and South American continents, stretching from the Arctic Ocean in the north to the southern tip of South America, characterized by diverse ecosystems and geological features.