-The Figure Shows Two Lorenz Curves

question 18

Multiple Choice

-The figure shows two Lorenz curves. Suppose both Lorenz curves measure income. Lorenz curve A shows _______ Lorenz curve B.

• A) the first quintile earns less income than the first quintile earned in
• B) the fifth quintile earns more income than the fifth quintile earned in
• C) income is less equally distributed than the income shown in
• D) income is more equally distributed than the income shown in

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Definitions:

Formalized

The process or state of making something official, structured, and systematic through established procedures and protocols.

Decentralized

The distribution of decision-making powers and operations among various levels within an organization or system.

Formalized Organizations

Organizations characterized by established procedures and rules, clear hierarchies, and well-defined roles and responsibilities.

Rules

Specific guidelines or regulations designed to dictate behavior or procedures within a particular context or organization.