Chapter 33 Distributing IncomeHomework Questions
1. Construct a Lorenz Curve depicting the income distribution of the United States and that of a typical third-world country.
2. Using the data from page 108, calculate the
percentage increase in poverty-level income for a family of four and the
percentage
increase in median family income received by couples with the
wife not working. Comment on the results.
Year | Family of 4 Poverty Income |
% Increase | Median Family Income, Couples, wife (spouse?) not in labor force | % Increase |
1959 | 2973 | |||
1970 | 3968 | $9,304 | ||
1980 | 8414 | 18,972 | ||
1990 | 13,359 | 28,747 |
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