Concept:Distribution of income is studied using the Lorenz curve, which shows how income is shared among the population.
Explanation:The Lorenz curve plots cumulative percentage of population on the
x-axis.
It plots cumulative percentage of income on the
y-axis.
A perfectly equal distribution would be a straight diagonal line.
The curve was developed by Max O. Lorenz in 1905.
It is closely linked with the Gini coefficient, a measure of income inequality.
The Phillips curve shows inflation and unemployment, not income distribution.
Thus, the correct measure is the Lorenz curve.
Answer:B. Lorenz Curve