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3. Inequality, Lorenz curve (4 points) The Hungarian Statistical Office (www.ksh.hu) reports the following information on the distribution of income for Hungary in 2021. Population
3. Inequality, Lorenz curve (4 points) The Hungarian Statistical Office (www.ksh.hu) reports the following information on the distribution of income for Hungary in 2021. Population Share of Quin tile income (%) First (lowest) 9,3 Second 13,2 Third 16,2 Fourth 20,8 Fifth (highest) 40,5 Using these data plot the Lorenz curve. You can use excel to draw the graph. (2 points) Using these data calculate the Gini coefficient (Week 7 Slide 23) Hint: The Lorenz curve and high school geometry are sufficient to find the Gini coefficient. (2 points)
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