The Importance of the Lorenz Curve Is That It

question 167

Multiple Choice

The importance of the Lorenz curve is that it

• A) tells policymakers what the optimum income distribution should be.
• B) summarizes the degree of income inequality in a society.
• C) indicates whether the poorest in society have enough income to live on.
• D) supports the idea that the income distribution should be market-based.

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Definitions:

Key Comparisons

In programming and algorithms, the process of comparing the keys or identifiers of data elements to sort or search through data structures.

Algorithm

A step-by-step procedure or formula for solving a problem or accomplishing some end.

Selection Sort

A simple, inefficient sorting algorithm that repeatedly selects the minimum element from an unsorted list and swaps it with the first unsorted element.

Accompanying Figure

An accompanying figure is an illustrative or graphical addition to a body of text, intended to provide visual context or clarification to the accompanying content.