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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