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- 7. Consider the following table with individuals in a country and their incomes: Individuals Income Deciles Quintiles (b) The Kuznets' ratio = (c) The Palma ratio= 1 (d) The Quintile ratio= 2 3 4 5 6 7 8 9 10 Total 13 C 10 12 2356 13 (a) Calculate the deciles and quintiles. 15 16 17 100 100 100A group 0f 10 people have the following annual incomes: 24,000,18,000,50,000,100,000,12,000,36,000,80,000,10,000,24,000,16,000. Calculate the share of total income that each quintile receives from this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution?What is measured on the two axes of a Lorenz curve?
- Table 15.9 shows the share of income going to each quintile of the income distribution for the United Kingdom in 1979 and 1991. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. How did inequality in the United Kingdom shift over this time period? How can you see the patterns in the quintiles in the Lorenz curves?6. omi Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Chack my Quintile of 1st Population Quintile's % of Income, Croatia, 2000 2nd 3rd 4th 5th 8 13 17 22 40 Quintile's % of Income, Croatia, 2010 14 18 22 37 es Quintile's % of Income, United States, 2010 5 10 14 20 51 United States data from the Congresslonal Budget Office at CBO.gov. Before-tax Income, rounded to whole %s. Data for other countries from WorldBank.org, rounded to whole %s. Report your answers to two decimal places. According to these data, the Gini coefficient for Croatia in 2000 is2. The Lorenz curve measures inequality in person income distribution. What is the difference between personal income distribution and functional income distribution?
- (4) Surprisingly, it is possible for someone who has no income to be considered __________________________.3. Thailand's Gini index in 2019 was 34.9%. The equation of the Lorenz curve that was used to compute this measure of income distribution is S(r) = 1 – (1 – r)". (a) Find the value of m. [Round off your answer to four decimal places] (b) Graph f(x) and the curve of absolute equality where the Lorenz curve is valid. [Use a graphing software] (c) For what values of m will the Gini index give a measure of income distribution that is more equitable? Justify your answer.(c) Draw the Lorenz curve.
- Percent of Total Income (%) 69 Percent of Total Income (%) P Completed 19 out of 20 Submit All Question 1 of 20 > The table provides data on peprcentage of total income earned by quintile in two communities, Malaya and Carribea. Community Q1 Q2 Q3 Q4 Q5 Malaya 22% 38% Carribea 3% Using the data, manipulate the line segment in the graph to plot the Lorenz curve for Malaya. %0% 24% 48% 15% Malaya Q5 Carribea 00 0 96 92 Q2 Q3 Q4 Q5 96 92 88 84 84 72 08 89 72 89 64 09 52 52 Q3 44 32 24 Q2 32 28. 24 45-degree line 4. 45-degree line 8. 12 20. Activate Windows 12. Go to Settings to activate Windo 20. Percent of Population (%) 4. 40 09 08 00 0. 09 Percent of Population (%) 40. 08 LAPTOP LOGIN USERNAME: student CH PASSWORD: Broward1 F10 F11 F12 NumLk Scr Lk PrtSc Pause SysRq Break 8. 6How do Economists define Poverty? 1. Economist define the concept of poverty as an economic state where an individual or household level of income is below a level of annual income necessary to provide a minimum or basic standard of living. 2. The poverty rate is directly related to how income is distributed within a society. Per capita income in 2015 and 2016 is estimated at $56,850 and $62,606, respectively. 3. A minimum standard of living refers to the ability of an individual to acquire food, clothing and housing at an adequate level to avoid economic distress. 4. The U.S. government economists evaluate the cost to individuals and households to acquire food, clothing, and housing to maintain a minimum healthy lifestyle. 5. The bench market for the income level necessary to maintain a basic standard of living is based on USDA Research that uses a baseline cost estimate associated with maintaining a healthy diet of 1800 to 2300 calories per day. * YouTube Q [) 5:09 / 5:37 CC Which…Mustafa earns 72,000 TRY in a year. Assume that he has 8,000 TRY tax exemption. The following figure shows the marginal tax rates for different income intervals.a) Calculate total tax payments of Mustafa.b) Calculate average tax rate for Mustafa.
