5- Calculate Gini coefficient for a country with the following deciles in income share data: Country X: 30 (richest quantile) 20 15 10 5 5 5 What is the area under the Lorenz Curve? Please show your diagram. 5 3 2

5- Calculate Gini coefficient for a country with the following deciles in income share data: Country X: 30 (richest quantile) 20 15 10 5 5 5 What is the area under the Lorenz Curve? Please show your diagram. 5 3 2

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 24RQ: If a country had perfect income equality what would the Lorenz curve look like?

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5- Calculate Gini coefficient for a country with the following deciles in income share data:
Country X: 30 (richest quantile) 20
What is the area under the Lorenz Curve? Please show your diagram.
10 5 5 5
5 3
2

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