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The top quintiles of the income distribution can be calculated by following these steps
The first step is to arrange the data in ascending order.
The second step is to divide the newly arranged data into five quintiles. Since there are 10 observations, each quintile will consist of two values.
The third is, to sum up, each quintile.
And the value of the top quintile will be the income received by the top quintile of this income distribution.
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- Calculate 1) average incomes 2) the Palma ratio (P10:P40) for each year to show that such urbanization combined with a persistent urban-rural income gap would be enough to create an inverted U-shape relationship (Kuznets Curve) between average income and inequality.Questions Explain three methods of measuring the income inequality of a nation? 1.kuznet ratio 2. Lorenz curve 3. Gini coefficient As in the case of income distribution, calculation of wealth distribution is done by different entities using different measurements, resulting in a disparity in outcomes. In fact, commonly, wealthis narrowly defined as financial wealth—namely, cash on handand the money value of tangible and nonliquid assets. Even justthe market valuation of financial portfolios is commonly used todefine financial wealth. However, some may extend the definitionto include the value of income streams and insurance rights that,for the most part, cannot be transacted or encumbered. Theseinclude Medicare, Medicaid, and Social Security. When suchtransfers and public assistance are included, the poor and manyelderly could benefit, reducing the wealth disparity (Galbraith2016). To obtain net wealth, the value of the debts are subtractedsubtracted from the value of the assets.…You have been provided with the following statement: “According to the World Bank, South Africa remains a dual economy with one of the highest inequality rates in the world, with a Gini Coefficient of 0.643.” address in depth in your brief: A good, understandable definition of the Gini Coefficient. Indicate the significance of the South African Gini coefficient in relation to Gini coefficient ranges associated with equal and unequal income distributions; • Explain how the Gini coefficient is derived from the Lorenz curve by making use of the graph provided;
- Which one of the following is the most likely to be associated with an increase in the incidence of poverty? A) The Gini coefficient falls substantially. B) The number of single persons with children and of single pensioners has increased substantially. C) The real income of those in the top 20% of income earners falls by 10%. D) The number of people earning below the level of income support has decreased.A group of 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?Questions Explain three methods of measuring the income inequality of a nation? Page 3 other 2 pages in the pic As in the case of income distribution, calculation of wealth distribution is done by different entities using different measurements, resulting in a disparity in outcomes. In fact, commonly, wealthis narrowly defined as financial wealth—namely, cash on handand the money value of tangible and nonliquid assets. Even justthe market valuation of financial portfolios is commonly used todefine financial wealth. However, some may extend the definitionto include the value of income streams and insurance rights that,for the most part, cannot be transacted or encumbered. Theseinclude Medicare, Medicaid, and Social Security. When suchtransfers and public assistance are included, the poor and manyelderly could benefit, reducing the wealth disparity (Galbraith2016). To obtain net wealth, the value of the debts are subtractedsubtracted from the value of the assets. Galbraith stated…
- [1] Consider an income distribution S: (10, 20, 30, 50, 100). Suppose it is divided into two groups, group A: (10, 30, 50) and group B: (20, 100). Let the poverty line be 30. (a) Show that for both Headcount and Poverty Gap, the weighted sum of poverty for group A and group B is the same as the overall poverty in S. (b) Now consider a relative poverty line which is 60 percent of the median income for each group. Will the decomposition rule still hold? Explain.No written by hand solution Consider a 100-person economy, where half of the population receives 20% of the total income and the other half the remaining 80%. Using the Lorenz-curve approximation, what is the Gini coefficient in this economy (please use the comma to seprare decimals, such as: x,y)?According to the analysis and data presented in class, the following are facts and possible reasons for economic inequality in USA within the last few decades, EXCEPT: Question 5 options: The USA has experiences within the last decades continuous increase in Economic Inequality, with special oncentration at the very top 1%. Part of this inequality is is the increasing wage gaps between the skilled vs low skilled workers. High skilled workers are earning more in relative terms in part due to an increase in demand for high skilled labor. Salaries for average wage earners have increased in proportion to their real productivity.
- The type of inequality before (pre) taxes and transfers are applied is called NET income inequality, and the inequality after (post) taxes and transfers is the MARKET income inequality. Group of answer choices True FalseBy finding the ___________, Gini Coefficient is determined/calculated. a. difference between the richest and poorest of the population b. area between a Lorenz curve and the line of absolute equality c. percentage of the population living on more than $1 a day d. proportion of the population with more than a primary education e. percentage of the population living on less than $1 a dayThe values in the table reflect the percentages of pre-tax-and transfer income. 22. Refer to Table 20-1. The trend in income inequality from 1980 to 2010 is 23. Refer to Table 20-1. If the distribution of income were completely equal, what percentage of income would the bottom fifth of the population earn? 24. A government policy aimed at protecting people against the risk of adverse events is called
