Use the figure below to answer the following questions.
Figure 19.1.2
-Consider the Lorenz curves in Figure 19.1.2.Which point indicates that the poorest 20 percent of families earn 9 percent of the income?
Definitions:
Days
The measurement of time, specifically the period of time that constitutes a 24-hour day.
Interest
A fee applied to borrowed funds, usually calculated as a percent of the principal amount.
Loan
A sum of money that is borrowed, typically from a financial institution, and is expected to be paid back with interest.
Months
Units of time, each approximately 30 days long, used to measure durations and periods in a year.
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