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Create a carefully labeled lorenz curve

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Reference no: EM131581412

Question: Statistics from the government of Thailand describe the household income distribution in that country, for 2000, as follows:

2158_4.png

a. Create a carefully labeled Lorenz curve describing this distribution. (Be precise about the labels on the vertical axis.)

b. Compare this distribution to the distribution in the United States. Would you expect the Gini ratio for Thailand to be much higher or lower or about the same? Why?

Reference no: EM131581412

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