1.. Statistics from the World Bank indicate the household income distribution in Vietnam, for 2014, as follows:

Group of Households Share of Aggregate Income Poorest quintile 7.1%

Second quintile 12.0%

ird quintile 16.4%

Fourth quintile 22.4%

Riest quintile 42.2%

a. Create a carefully labeled Lorenz curve describing this distribution. (Be precise about the labels on the vertical axis.)

b. Compare this distribution to the distribution in the United States. Would you expect the Gini ratio for Vietnam to be higher, lower, or about the same? Why?