Study the Lorenz curve and answer the following question.

The bottom 80 percent of the population control how much wealth?

Approximately 20%

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Approximately 40%

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Approximately 60%

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Approximately 80%

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Solution

The correct option is C Approximately 60%
From the Lorenz curve, it can be observed that the bottom 80 percent of the population controls approximately 60 percent of the wealth. Corresponding to 80% on the population axis, the curve just passes over 60% on the wealth axis.

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Study the Lorenz curve and answer the following question. The bottom 80 percent of the population control how much wealth?

The correct option is C Approximately 60%From the Lorenz curve, it can be observed that the bottom 80 percent of the population controls approximately 60 percent of the wealth. Corresponding to 80% on the population axis, the curve just passes over 60% on the wealth axis.

Study the Lorenz curve and answer the following question.

The bottom 80 percent of the population control how much wealth?

The correct option is C Approximately 60%
From the Lorenz curve, it can be observed that the bottom 80 percent of the population controls approximately 60 percent of the wealth. Corresponding to 80% on the population axis, the curve just passes over 60% on the wealth axis.