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5. In country A, its income distribution is illustrated by the Lorenz curve and associating data in the table below. - Calculate the Gini coefficient
5. In country A, its income distribution is illustrated by the Lorenz curve and associating data in the table below. - Calculate the Gini coefficient of this country. Show your calculation. - Label area A= the area between the 45 (Perfect equality line) and the Lorenz curve. - Label area B= the area beneath the Lorenz curve to the X-axis. This area B can be calculated by adding all the areas of (1), (2), (3), (4), (5) triangles and all the areas of (6), (7), (8), (9) rectangles. 5. In country A, its income distribution is illustrated by the Lorenz curve and associating data in the table below. - Calculate the Gini coefficient of this country. Show your calculation. - Label area A= the area between the 45 (Perfect equality line) and the Lorenz curve. - Label area B= the area beneath the Lorenz curve to the X-axis. This area B can be calculated by adding all the areas of (1), (2), (3), (4), (5) triangles and all the areas of (6), (7), (8), (9) rectangles
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