KThe government of a small country is planning sweeping changes in the tax structure in order to provide a more equitable distribf(x) = 21g(x) = 0.6x +0.4x²Current Lorenz curveProjected Lorenz curve after changes in tax lawsFind the Gini index of income concentration for each Lorenz curve. Will the proposed changes provide a more equitable incomeIdentify the integrand for the computation of the current and projected Gini indices.The current Gini index is given by 2 (x-x1) dx and the projected Gini index is given by 2Compute the current Gini index.The current Gini index is(Round to three decimal places as needed)neededx-(0.6x+0.4x²)) ddx.0

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Answered: K The government of a small country is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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7: 8: Cumulative Percentage of Family Income 100 80 60 40 20 0 A 20 B A Lorenz Curve B 60 80 Cumulative Percentage of Families 40 Which point shows that 20% of families earn 40% of total income? 100
The tables show the (approximate) distributions of money income in the United States and Canada United States Cumulative percentage of Households Income Lowest 40 Lowest BO 12 50 Canada Cumulative percentage of Households Income Lowest 40 16 Lowest Bo 56 Draw the line of equality Draw the Lorenz curve for the United States Draw a point to show the cumulative percentage of income received by the lowest 80 percent of households. Label it U.S. Draw the Lorenz curve for Canada. Draw a point to show the cumulative percentage of income received by the lowest 40 percent of households Labelit Canada Based on this data, which country has the more unequal distribution? OA. Canada B. The United States OC. It is impossible to tell without more information OD. Neither. They have the same degree of inequality 100 90- 00 70- 60- 60- 40- 30- 20 10 Cumulative percentage of income 10 20 30 40 50 60 70 80 90 100 Cumulative percentage of households >>>Draw only the objects specified in the question. G
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Q8.4) Formula for Gini Coefficient from Lorenz CurveA / A + BWhat does the A and B represent?
0.43 0.15 0.3 0.7 Cumulative of Income Putouilly Carve Cumulative of Population Poted begally Line The figure shows a Lorenz curve. If Area A is equal to 0.15 and Area B is equal to 0.35, what is the Gini coefficient? (Answers are rounded to two decimal places)
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
Using the above Lorenz Curve, if Economy A decreased the progressivity of income taxes, then Economy A's Lorenz Curve would shift closer to the 45-degree reference line. shift closer to Economy B's Lorenz Curve. not shift at all
Draw the Lorenz curve and compute the Gini index of a group whose annual incomes (in thousands of dollars) are given by the following frequency table. Value Frequency 30 2 50 4 60 5 90 4 100 3 120 2
Using the above Lorenz Curve, answer the following questions. . . Approximately what percentage of the income does the richest 20% of Country A earn? Approximately what percentage of the income does the poorest 20% of Country B earn? If the government of Country B increased the progressivity of income taxes, would its Lorenz Curve move closer to the 45-degree reference line, closer to Country A's Lorenz Curve, or not move at all?
K A Lorenz curve plots the A. percentage of total income received by each quintile against the percentage of households in the quintile OB. trend in the cumulative percentage of income received by each quintile against trend in the number of households O C. average income received by each quintile against the number of households in the quintile O D. cumulative percentage of income against the cumulative percentage of households Next
100 Cumulative Percentage of Income 80 8 8 8 L K Line of Perfect Income Equality Lorenz Curve 1 Lorenz Curve 2 20 40 60 80 100 Cumulative Percentage of Households Refer to Exhibit 28-2. This graph depicts the Lorenz curve for two countries, country 1 (Lorenz curve 1) and country 2 (Lorenz curve 2). Although the Gini coefficient is in country 1 than in country 2, the bottom quintile in receives a larger share of income compared to the bottom quintile in O a. lower, country 2; country 1 O b. lower, country 1; country 2 Oc. higher, country 2; country 1 O d. higher, country 1; country 2
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