The Lorenz Curve for the Income Distribution in a Certain

question 83

Multiple Choice

The Lorenz curve for the income distribution in a certain country in 2005 is given by . Find the Gini coefficient of income for 2005 for this country. Round your answer to four decimal places. ​

• A) ​0.3576
• B) 0.4648
• C) 0.5614
• D) 0.2103
• E) 0.2668

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Definitions:

State and Federal Income Taxes

Taxes imposed on individuals and businesses by state and the federal government based on the income earned within the tax year.

Necessities

Essential goods or services required for basic living and sustaining human life, often including food, water, shelter, and clothing.

Technology

Inventions or innovations from applied science or engineering research.

Applied Science

The discipline of applying existing scientific knowledge to develop more practical applications, such as technology or inventions.