Economics · Poverty and Inequality
Consider the following statements about the Lorenz curve: I. The degree of income inequality will be higher the farther the Lorenz curve is from the line of equal distribution. II. The limits of the Lorenz ratio (Gini coefficient, L) are -1 ≤ L ≤ 1. III. The degree of income inequality will be lower the closer the Lorenz curve is to the line of equal distribution. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only II
- 2I and III✓
- 3I and II
- 4Only I
Correct answer
I and III
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