Consider the following estimates from the 1990s of shares of income of each group. Draw a rough Lorenz curve for each country. Which has the most nearly equal distribution, based on your diagram.
Country Poorest 40% Next 30% Next 20% Richest 10%
Bolivia 13 21 26 40
Chile 13 20 26 41
Uruguay 22 26 26 26
See the attached file. Thanks
Cumulative %age of Population Cumulative %age of Income
Bolivia Chile Uruguay Equal ...
Shows how to draw Lorenz curve for a country by using example of three countries i.e. Bolivia, Chile, Uruguay and identifies which has the most nearly equal distribution.