0.33 is the right answer for the first part. I just want to know how they got 0.33. Also the second part I need help on. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
0.33 is the right answer for the first part. I just want to know how they got 0.33. Also the second part I need help on. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 7SCQ: Table 15.9 shows the share of income going to each quintile of the income distribution for the...
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0.33 is the right answer for the first part. I just want to know how they got 0.33. Also the second part I need help on.
Note:-
Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate.
![Consider the figure at right.
The value of the Gini coefficient if area B is twice as large as area A is 0.33 (Enter your
response rounded to two decimal places.)
Suppose that the Lorenz curve becomes more bowed, with the result that area B becomes
exactly the same size as area A.
The new value of the Gini coefficient is. (Enter your response rounded to two
decimal places)
ame
Cumulative % of Money Income
100-
75
50
Complete Equality
Inequality Gap
A
Actual money
income distribution
B
50
75
Cumulative % of Households
100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F462a659b-eacd-43eb-bb53-a98b15b262d0%2Fde8444c8-a795-47f7-ac50-2185ebbd08a3%2F9ququ8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider the figure at right.
The value of the Gini coefficient if area B is twice as large as area A is 0.33 (Enter your
response rounded to two decimal places.)
Suppose that the Lorenz curve becomes more bowed, with the result that area B becomes
exactly the same size as area A.
The new value of the Gini coefficient is. (Enter your response rounded to two
decimal places)
ame
Cumulative % of Money Income
100-
75
50
Complete Equality
Inequality Gap
A
Actual money
income distribution
B
50
75
Cumulative % of Households
100
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