In order to study the effects of World War II on a certain country's economy, an economist used data from that country's census bureau to produce the following Lorenz curves for the distribution of income in 1935 and 1947. f(x)=x24 Lorenz curve for 1935 1.4 g(x)=x Lorenz curve for 1947 Find the Gini index of income concentration for each Lorenz curve and interpret the results. ***

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In order to study the effects of World War II on a certain country's economy, an economist used data from that country's
census bureau to produce the following Lorenz curves for the distribution of income in 1935 and 1947.
f(x)=x24 Lorenz curve for 1935
1.4
g(x)=x Lorenz curve for 1947
Find the Gini index of income concentration for each Lorenz curve and interpret the results.
***
Transcribed Image Text:In order to study the effects of World War II on a certain country's economy, an economist used data from that country's census bureau to produce the following Lorenz curves for the distribution of income in 1935 and 1947. f(x)=x24 Lorenz curve for 1935 1.4 g(x)=x Lorenz curve for 1947 Find the Gini index of income concentration for each Lorenz curve and interpret the results. ***
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