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Q: Lorenz Curve shows–
  • A. Inflation
  • B. Unemployment
  • C. Income distribution
  • D. Poverty
Correct Answer: Option C - The Lorenz Curve was developed by Max O. Lorenz in 1905. The distribution of income in an economy is represented by Lorenz Curve. Gini coefficient is derived from it, which is used to measure the degree of income inequality.
C. The Lorenz Curve was developed by Max O. Lorenz in 1905. The distribution of income in an economy is represented by Lorenz Curve. Gini coefficient is derived from it, which is used to measure the degree of income inequality.

Explanations:

The Lorenz Curve was developed by Max O. Lorenz in 1905. The distribution of income in an economy is represented by Lorenz Curve. Gini coefficient is derived from it, which is used to measure the degree of income inequality.