The table shows the distribution of money income in Australia. Calculate the cumulative distribution of income for Australia and draw the Lorenz curve for Australian income. In which country is the income distribution more unequal: Australia or the United States?

Transcribed Image Text:

FIGURE 20.1 Chapter Checkpoint Study Plan Problem I Cumulative percentage of income 100 80 60- 40- 20 0 Line of equality 20 40 60 80 Cumulative percentage of households 100