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INDV 103 - equal perfect distribution Obviously doesn’t...

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INDV 103 - Oct. 30th Education 28% of US Adult population has a college education GI bill shifts #, allowing college education, essentially free (HR2669 biggest bill since then just passed) So many left the services, needed the means to get a job, etc... GI bill addressed that About half of the 17 million enrolled in higher education at community colleges 59% will have a degree w/in 6 yrs of entering UA Nov. 8th Lorenze curve used to measure income distribution Y axis cumulative percentage of income X axis cumulative percentage of families Diagonal line is perfect income equality line, at that point the bottom 20 percent and getting 20% of the income in the society, 40 and 40, 60 and 60, etc... equal,
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Unformatted text preview: .. equal, perfect distribution. Obviously, doesn’t exist, only a reference point. Lorenz curve measures actual distribution of income in a society. The more unequal the move beveled, bending down to the right. To the left is becoming more equal. GINI - ratio of the area between the perfect equality line and the lorenz curve. Take that area and divide what’s below. The lower the co-eff. the more equal the incom. dist. is and vice versa Quintile = 20% - lowest 20% today % of total income about 3.8 Highest 20% at about 50.2% of total income Reasons for income disparity: No. of workers(in a house hold), experience, education...
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