For questions 4 - 6: Consider an economy with 1000 residents, and the following income distribution: each person-in thebottom quartile of the income distribution earns $10,000; 'each person in the middle two quartiles earns $40,000; and each:person in the top quartile of the income distribution earns $160,000. Suppose the bottom quartile pays no taxes, the middletwo quartiles pay 15 percent of its income in taxes, and the top quartile pays 30 percent of its income in taxes. Two-thirds:of all tax money is redistributed equally to all citizens in the form of military defense, government pensions (social security),roads/highways, etc. The remaining one-third of tax money is disturbed entirely to the poorest quartile.4. Without government tax and redistribution, the Gini coefficient associated with this income distribution isA. 0.327eB. 0.412.eC. 0.425eD. 0.450e5. The total tax collected isA. $9 millionB. $15 million-C. $21 millionD. $30 million6. With government tax and redistribution, the Gini coefficient associated with this income distribution is:C. 0.246eA. 0.163eB. 0.152eD. 0.145e

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Answered: For questions 4 - 6: Consider an…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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