lorenz curve
Cards (66)
- What are the two main measures economists use to assess income inequality?
- What kind of interpretation does the Lorenz curve provide regarding income inequality?
- What does the Gini coefficient provide that the Lorenz curve does not?
- What is notable about Norway's income distribution compared to South Africa's?
- Which axis represents the cumulative percent of income on a Lorenz curve?
- Which axis represents the cumulative percent of population on a Lorenz curve?
- What does 'cumulative' mean in the context of a Lorenz curve?
- What does the upward sloping linear line on a Lorenz curve represent?
- What does it mean if a Lorenz curve is close to the line of perfect equality?
- What does it mean if a Lorenz curve is far from the line of perfect equality?
- In South Africa, what might the Lorenz curve show about the poorest 20% of the population?
- In South Africa, what might the Lorenz curve show about the richest 10% of the population?
- What does the Gini coefficient convert the visual interpretation of the Lorenz curve into?
- What does the Gini coefficient measure?
- What is the formula to calculate the Gini coefficient?
- In the Gini coefficient formula, what does Section A represent?
- In the Gini coefficient formula, what does Section B represent?
- In the Gini coefficient formula, what does Section A + B represent?
- What range does the Gini coefficient fall between?
- What does a Gini coefficient of zero represent?
- What does a Gini coefficient of one represent?
- What does a Gini coefficient closer to zero indicate?
- What does a Gini coefficient closer to one indicate?
- What is Norway's Gini coefficient typically around?
- What is South Africa's Gini coefficient typically around?
- How can Lorenz curves and Gini coefficients be used in essays about government policies?
- What should a policy aiming to reduce income inequality do to the Lorenz curve?
- What should a policy aiming to reduce income inequality do to the Gini coefficient?
- Why is income inequality considered a significant criticism of free labor markets?
- Under what circumstances might government intervention to redistribute income be deemed necessary?
- On a Lorenz curve, what variable is invariably plotted on the y-axis?
- On a Lorenz curve, what variable is invariably plotted on the x-axis?
- What does a Lorenz curve where the last person earns all the income signify?
- What is a major criticism of free labor markets that makes it important to measure income inequality?
- Why do economists measure income inequality?
- What are the two main measures of income inequality used by economists?
- How does the Lorenz curve help in understanding income inequality?
- What does the Gini coefficient provide that the Lorenz curve does not?
- Which country is described as having a very equal distribution of income?
- Which country is described as having one of the most unequal income distributions?