Question 14The following income distribution data are for Lesotho:QuintilePercent ShareLowest 10%2.2%Lowest 20%3.0%Second quintile 7.2%Third quintile 12.5%Fourth quintile 21.0%Highest 20%56.3%Lesotho's national income is about $1.69 billion. Lesotho's population is approximately 2 million.Suppose that each household (which consists of one person) makes the average income for itsquintile. What is the poverty headcount if the poverty line is $20 per capita?

Given information National income 1.69 Population Income Share Lowest 10% 2.20% Lowest 20%…

Answered: The following income distribution data…

The following income distribution data are for Lesotho: Quintile Percent Share Lowest 10% 2.2% Lowest 20% 3.0% Second quintile 7.2% Third quintile 12.5% Fourth quintile 21.0%

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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