The table shows three alternative distributions of land ownership in a village with 100 people and 100 hectares of land. Draw the Lorenz curves for each case. For cases I and III calculate the Gini. For case II, show on the Lorenz curve diagram how the Gini coefficient can be calculated. Note this is exercise 5.9 for CORE Project The Economy. 10 people own 10 hectares Case I 90 people own nothing each 34 people own 1 hectare 27 people own 2.44 hectares Case II 39 people own nothing each each 100 people own 1 hectare Case III each. (a) What is the Gini for Case I (between 0 and 1, within two deci (Alt + A) ¡g. 0.12)? Make sure you round correc (b) What is the Gini in Case II? (between 0 and 1, within two decimal places, e.g. 0.34)? Make sure you round correctly. 固团画 (c) What is the Gini in Case IlI? (between 0 and 1, within two decimal places e.g. .99)? Make sure you round correctly.

The table shows three alternative distributions of land ownership in a village with 100 people and 100 hectares of land. Draw the Lorenz curves for each case. For cases I and III calculate the Gini. For case II, show on the Lorenz curve diagram how the Gini coefficient can be calculated. Note this is exercise 5.9 for CORE Project The Economy. 10 people own 10 hectares Case I 90 people own nothing each 34 people own 1 hectare 27 people own 2.44 hectares Case II 39 people own nothing each each 100 people own 1 hectare Case III each. (a) What is the Gini for Case I (between 0 and 1, within two deci (Alt + A) ¡g. 0.12)? Make sure you round correc (b) What is the Gini in Case II? (between 0 and 1, within two decimal places, e.g. 0.34)? Make sure you round correctly. 固团画 (c) What is the Gini in Case IlI? (between 0 and 1, within two decimal places e.g. .99)? Make sure you round correctly.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What is the Lorenz curve and what does it illustrate? Are incomes distributed equally? What would happen if incomes were equal? Why do you think income distribution is so unequal? Identify and explain three reasons.
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Question One The figure below shows three alternative distributions of land ownership in a village with people and 100 hectares of land. a. Draw the Lorenz curves for each case. 10 points b. For cases I and III, calculate the Girl 10 points c For case il, show on the Lorenz curve diagram how the Gini coefficient can be calculated. 5 points Question One The figure below shows three alternative distributions of land ownership in a village with 10 people and 100 hectares of land. a. Draw the Lorenz curves for each case. b. For cases I and III, calculate the Gini c. For case II, show on the Lorenz curve diagram how the Gini coefficient can be calculate 80 people own nothing 20 people own 5 hectares each 40 people own nothing 40 people own 20 people own 1 hectare each 3 hectares each 100 people own 1 hectare each
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