In a study on the effects of World War II on the U.S. economy, an economist used
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In a study on the effects of World War II on the U.S. economy, an economist used data from the U.S. Census Bureau to produce the following Lorenz curves for the distribution of U.S. income in 1935 and in 1947:
Find the Gini index of income concentration for each Lorenz curve and interpret the results.
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The Gini index is a measure of income inequality that ranges from 0 perfect equality to 1 perfect in...View the full answer
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Related Book For 
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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