Given the Table Shown, Which Country Has a More Equal

question 45

Essay

Given the table shown, which country has a more equal income distribution? Explain your answer.
$$\begin{array} { | l | l | l | l | l | l | } \hline \text { Country } & \text { Bottom Fifth } & \text { Second Fifth } & \text { Middle Fifth } & \text { Fourth Fifth } & \text { Top Fifth } \\\hline \text { Country A } & 9.0 \% & 13.5 \% & 17.5 \% & 22.9 \% & 37.1 \% \\\hline \text { Country B } & 4.8 \% & 10.5 \% & 16.0 \% & 23.5 \% & 45.2 \% \\\hline\end{array}$$

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Definitions:

Consumer

An individual or group who purchases goods and services for personal use.

Expected Utility

A theory in economics that calculates the anticipated utility resulting from different outcomes in risky or uncertain situations.

Utility

(Of a consumer) a measure of the satisfaction derived from consumption of goods and services.

Probability

The measurement of the likelihood of a specific event or outcome occurring.