The closer the Lorenz curve for income is to the line of equality, the larger is the nation's total income. O the smaller is the nation's total income. O the more equally are incomes distributed. the larger the fraction of the nation's income received by the richest families.

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter15: The Distribution Of Income And Poverty
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The closer the Lorenz curve for income is to the line of
equality,
the larger is the nation's total income.
the smaller is the nation's total income.
the more equally are incomes distributed.
the larger the fraction of the nation's income received by the richest
families.
Transcribed Image Text:The closer the Lorenz curve for income is to the line of equality, the larger is the nation's total income. the smaller is the nation's total income. the more equally are incomes distributed. the larger the fraction of the nation's income received by the richest families.
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