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Question
The options contain four Lorenz curves indicating the wealth distribution for four countries. In which of the following cases is the wealth distribution the most uniform?
The options contain four Lorenz curves indicating the wealth distribution for four countries. In which of the following cases is the wealth distribution the most uniform?
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Solution
The correct option is C
The line of equal distribution is given below. Closer the Lorenz curve is to the line of equal distribution, more uniform the distribution. It can be observed that the distribution is the most uniform for option (c). Note that in the real world, such distributions seldom exist.
The line of equal distribution is given below. Closer the Lorenz curve is to the line of equal distribution, more uniform the distribution. It can be observed that the distribution is the most uniform for option (c). Note that in the real world, such distributions seldom exist.
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