Lorenz curves also can provide a relative measure of the distribution of a country’s total assets. Using data in a report by the U.S. Congressional Joint Economic Committee, an economist produced the following Lorenz curves for the distribution of total U.S. assets in 1963 and in 1983:

Find the Gini index of income concentration for each Lorenz curve and interpret the results.

Transcribed Image Text:

f(x) = x10 Lorenz curve for 1963 %3D 8(x) = x12 Lorenz curve for 1983