Question

In: Economics

The following is the data on the income of people living in country A and B....

  • The following is the data on the income of people living in country A and B.

Income

# of population in Country A

# of population in Country B

10000

1000

4000

20000

5000

5000

30000

4000

6000

40000

12000

6500

50000

10000

5200

60000

6000

4600

70000

4500

5200

80000

3500

6500

90000

2500

3400

100000

1500

3600
  • Depict the income data on a Lorenz curve for country A
  • Depict the income data on a Lorenz curve for country B
  • Find the Gini-coefficient index for country A
  • Find the Gini-Coefficient index for country B
  • Interpret the index value

Solutions

Expert Solution

Rahul Sunny answered 1 year ago
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