1. Below are cumulative income share data for Colombia and Indonesia in 2019 Population Quintile Cumulative Share of Income (Colombia) Cumulative Share of Income 0 7 18 (Indonesia) Cumulative Share of National Income C. 80% 70% 60% 50% 40% 30% a. Graph the Lorenz Curve for Colombia (you can use the grid below, or graph on your own). Label it "Colombia." b. Graph the Lorenz Curve for Indonesia on the same plot. Label it "Indonesia." 100% 90% 20% 10% 012 0 4 0 1 12 2 3 24 33 d. Which country has the larger Gini Coefficient? 4 44 3 55 5 100 100 4 Cumulative Population Quintiles Ranked by Income Based on the graph, which country exhibits greater income inequality 5
1. Below are cumulative income share data for Colombia and Indonesia in 2019 Population Quintile Cumulative Share of Income (Colombia) Cumulative Share of Income 0 7 18 (Indonesia) Cumulative Share of National Income C. 80% 70% 60% 50% 40% 30% a. Graph the Lorenz Curve for Colombia (you can use the grid below, or graph on your own). Label it "Colombia." b. Graph the Lorenz Curve for Indonesia on the same plot. Label it "Indonesia." 100% 90% 20% 10% 012 0 4 0 1 12 2 3 24 33 d. Which country has the larger Gini Coefficient? 4 44 3 55 5 100 100 4 Cumulative Population Quintiles Ranked by Income Based on the graph, which country exhibits greater income inequality 5
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 7SCQ: Table 15.9 shows the share of income going to each quintile of the income distribution for the...
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Transcribed Image Text:1. Below are cumulative income share data for Colombia and Indonesia in 2019
Population Quintile
Cumulative Share of Income
(Colombia)
Cumulative Share of Income 0 7
(Indonesia)
a.
Cumulative Share of National Income
80%
70%
60%
50%
40%
30%
Graph the Lorenz Curve for Colombia (you can use the grid below, or graph on your own). Label it
"Colombia."
b. Graph the Lorenz Curve for Indonesia on the same plot. Label it "Indonesia."
100%
90%
20%
10%
0
0 1
0
4
1
2
12
2
18
3
24
33
d. Which country has the larger Gini Coefficient?
4
44
3
5
100
55 100
4
Cumulative Population Quintiles Ranked by Income
C. Based on the graph, which country exhibits greater income inequality
5
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