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Q8.4)
Formula for Gini Coefficient from Lorenz Curve
A / A + B
What does the A and B represent?
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- Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Quintile 1st % of Income, United States, 5 2010 % of Income, Bangladesh, 2010 9 2nd 10 13 3rd 14 16 United States data from Census.gov, before-tax income, rounded to 1/100ths. Data for Bangladesh from WorldBank.org, rounded to 1/100ths. 4th 20 21 5th 51 41 Report your answers to two decimal places. According to these data, the Gini coefficient for the United States in 2010 is The Gini coefficient for Bangladesh in 2010 is These data indicate that in 2010, income inequality is (Click to select) in the United States compared to Bangladesh.QUESTION 2 Cumulative Percent of Income 100 80 60 40 20 0 0 20 40 60 Cumulative Percent of Households (Ordered) South Africa --India Which country in this picture has the highest income inequality (measured by Gini) ? -Sweden Absolute Equality. Which country has the lowest Gini coefficient? 80 United States 100Ma1. Using diagrams, discuss the following aspects of income inequality. Draw two different Lorenz Curves, LCA & LCB, where the two curves cross. Discuss and compare the two in terms of the Top 1% Share.
- Ey) 0% Cumulative share of people Multiple Choice O Which of the following statements is true? 1. The midpoint of each line demonstrates the area with least inequality. II. Curve A demonstrates a more equal society than curve B. III. On both curves, individuals in the 99th percentile of the income distribution earn more than 1 percent of the total income. I only Il and Ill only I and Ill only 0% I, II, and Ill 100% Proy 12 of 25 # Movt Help SaveConsider a Lorenz curve given by f(2) = 2" for 0 1. What happens to the Gini index G. I as n+ 00, and what's the interpretation of that result? Select the correct answer below: O As n+ 00, G.1 - 0, denoting complete income inequality. As n+ 00, G.I- 100, denoting perfect income equality. As n0, G.I- 100, denoting complete income inequality. O As n 0, G.I 0, denoting perfect income equality0.43 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)
- The Lorenz curve for Bangladesh looks like this: Cumulative percentage of income 100 58.7 37.4 21.3 8.9 Bangladesh Lorenz Curve 20 60 80 Cumulative percentage of population 40 100 04 How much income do individuals in the second income quintile in Bangladesh receive?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 eachDraw 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
- 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 NextK In recent years, as the gap between the rich and the poor has increased, the Lorenz curve has O A. shifted away from the line of equality OB. shifted closer to the line of equality O c. not changed, but there has been a movement down along it O D. not changed, but there has been a movement up along it Ne100 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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