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. 2.2 f(x)=x Lorenz curve for 1935 1.5 g(x)=x Lorenz curve for 1947 Find the Gini index of income concentration for each Lorenz curve and interpret the results. What is the Gini index for 1935? (Round to three decimal places as needed.)

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. 2.2 f(x)=x Lorenz curve for 1935 1.5 g(x)=x Lorenz curve for 1947 Find the Gini index of income concentration for each Lorenz curve and interpret the results. What is the Gini index for 1935? (Round to three decimal places as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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