3. How does the Gini ratio relate to the Lorenz curve? Why cant the Gini ratio exceed...

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3. How does the Gini ratio relate to the Lorenz curve? Why can’t the Gini ratio exceed 1? What is implied about the direction of income inequality if the Gini ratio declines from 0.42 to 0.35?

How would one show that change of inequality in the Lorenz diagram? [LO18B.1]

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Microeconomics

ISBN: 9781108420969

15th Canadian Edition

Authors: Campbell R. Mcconnell, Stanley L. Brue, Sean M. Flynn, Thomas P. Barbiero

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