"If the Distribution of Income Was Equal, the Lorenz Curve

question 132

Short Answer

"If the distribution of income was equal, the Lorenz curve would be a straight, 45° line." Is the previous statement or in?

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Definitions:

Gross Income

The total revenue generated from sales or services before any deductions are made for expenses.

Inflation

A general increase in prices and fall in the purchasing value of money.

Disposable Income

The amount of money individuals have available to spend and save after taxes have been deducted from their income.

Economize

The action of reducing expenditure or efficiently managing resources to avoid waste and save money.