The Above Table Shows the Distribution of Income in Two

question 41

Essay

The above table shows the distribution of income in two imaginary countries, Alpha and Beta.
a∙In the figure below, draw the Lorenz curves for Alpha and Beta.

b∙Compare the distribution of income in Alpha with that in Beta.Which distribution is more unequal?
c∙What would be the distribution of income in a country with perfect income equality?

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Definitions:

Pennant

A flag that serves as a symbol of a sports team or a sign of victory in sporting competitions.

Red Giants

A phase in the life cycle of a star where it expands and cools after exhausting the hydrogen in its core, typically marked by a significant increase in size and a change in color to red.

White Dwarfs

are small, dense stars that represent the final evolutionary state of stars not massive enough to become neutron stars or black holes.

Dynamic

Pertains to the continuous change, activity, or progress within a process or system.