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If 50 percent of the population receives 20 percent of the total income, it can be represented on the Lorenz curve by: a point below the line of income equality.
A Lorenz curve represents the cumulative percentage of total income received along the horizontal axis and the cumulative share of population along the vertical axis.
The distribution of the cumulative percent of occurrences by the cumulative percent of population is shown graphically by the Lorenz Curve. By expanding the neighborhood income quintile group, the horizontal axis (x-axis) of the curve shows the cumulative percent of persons in the population, and the vertical axis (y-axis) shows the cumulative percent of events in the population.
The Lorenz curve can be described as the proportion of the population that the neighborhood income quintile represents holding the proportion of population events.
Therefore, If 50 percent of the population receives 20 percent of the total income, it can be represented on the Lorenz curve by: a point below the line of income equality.
Learn more about the Lorenz curve here:
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