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Author Question: What is a Lorenz curve and what is a Gini coefficient? . What will be an ideal ... (Read 48 times)

mmm

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on: Jun 29, 2018
What is a Lorenz curve and what is a Gini coefficient?
 
  .
 
  What will be an ideal response?

Question 2

When the Federal Reserve increases the money supply, people spend more because interest rates fall.
 
  Indicate whether the statement is true or false
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ghepp

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A Lorenz curve is a curve that shows the distribution of income by arraying incomes from the lowest to the highest on the horizontal axis and indicating the cumulative fraction of income earned by each fraction of households on the vertical axis. A Gini coefficient is equal to the area between the line of perfect income equality and the Lorenz curve divided by the whole area below the line of perfect equality.

Answer to Question 2

TRUE


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