The following diagram shows the Lorenz curves for three countries. Country X's Lorenz curve is shown in blue, Country Y's Lorenz curve is shown in purple, and Country Z's Lorenz curve is shown in green. Region I is the area above Country X's Lorenz curve and below the 45-degree line. Region II is the area below Country X's Lorenz curve and above Country Y's Lorenz curve. Region III is the area below Country Y's Lorenz curve and above Country Z's Lorenz curve. Region IV is the area below Country Z's Lorenz curve. CUMULATIVE PERCENTAGE OF INCOME 100 80 8 40 20 0 0 40 11 Country X O Country Z Country X Country Y Country Z 20 60 80 CUMULATIVE PERCENTAGE OF HOUSEHOLDS IV Based on the graph, the Gini coefficient for Country Y is given by II/ (I + II + III+IV) Which of the following countries has the lowest Gini coefficient? 100 ?
The following diagram shows the Lorenz curves for three countries. Country X's Lorenz curve is shown in blue, Country Y's Lorenz curve is shown in purple, and Country Z's Lorenz curve is shown in green. Region I is the area above Country X's Lorenz curve and below the 45-degree line. Region II is the area below Country X's Lorenz curve and above Country Y's Lorenz curve. Region III is the area below Country Y's Lorenz curve and above Country Z's Lorenz curve. Region IV is the area below Country Z's Lorenz curve. CUMULATIVE PERCENTAGE OF INCOME 100 80 8 40 20 0 0 40 11 Country X O Country Z Country X Country Y Country Z 20 60 80 CUMULATIVE PERCENTAGE OF HOUSEHOLDS IV Based on the graph, the Gini coefficient for Country Y is given by II/ (I + II + III+IV) Which of the following countries has the lowest Gini coefficient? 100 ?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter12: Income Distribution, Poverty, And Discrimination
Section: Chapter Questions
Problem 17SQ
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