(a) Find the Gini index of f(x). (b) Find the values of a and b so that the income distributions between the two universes are the same. Show complete solutions. (c) What percent of total income does the poorest 25% of Universe 30.13 receive? What percent of total income does the richest 10% of Universe 30.13 receive?

(a) Find the Gini index of f(x). (b) Find the values of a and b so that the income distributions between the two universes are the same. Show complete solutions. (c) What percent of total income does the poorest 25% of Universe 30.13 receive? What percent of total income does the richest 10% of Universe 30.13 receive?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Quintile 1st % of Income, United States, 5 2010 % of Income, Bangladesh, 2010 9 2nd 10 13 3rd 14 16 United States data from Census.gov, before-tax income, rounded to 1/100ths. Data for Bangladesh from WorldBank.org, rounded to 1/100ths. 4th 20 21 5th 51 41 Report your answers to two decimal places. According to these data, the Gini coefficient for the United States in 2010 is The Gini coefficient for Bangladesh in 2010 is These data indicate that in 2010, income inequality is (Click to select) in the United States compared to Bangladesh.
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