lorenz assignment

lorenz assignment - years. 2. The Gini Coefficients for...

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Grace Lee RUID: 137009205 Lorenz Curve Assignment 1. Referring to the position of the two Lorenz Curves, the distribution of income between 1970 and 2010 clearly changed. Compared to 1970, the poorest 20% of households was less in 2010. Also, the wealthiest 20% of households (those to the right of the 80% mark) was greater in 2010 than in 1970. It is evident from the data given that the overall cumulative percent of income was greater in 2010. There were fewer poorer households, and a greater number of wealthy households than compared to households from 1970. This may be because of positive advancements in the economy throughout the
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Unformatted text preview: years. 2. The Gini Coefficients for both 2010 and 1970 can be found by using the data and graph given. Larger Gini coefficients mean greater inequality. Therefore, there was a greater inequality during the year 2010. The change in these coefficients is consistent with the story I got on inequality by looking at the Lorenz Curves. Because there was a greater cumulative percent of income in 2010, there was a larger Gini coefficient and a greater inequality during that year....
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