Assignment1:GoalComparison

Answerthefollowingquestions.

1.StandardofLiving

1.Explainwhatlifeexpectancytellsusaboutacountry'sstandardoflivingandwhy?

2.UsetheInternettondthelifeexpectancyofatypicalAmerican?Use

referencethesourcewhereyoufoundthisinformation.

3.UsetheInternettondthelifeexpectancyofatypicalCanadian?Use

toreferencethesourcewhereyoufoundthisinformation.

4.Chooseanadditionalcountryandndthelifeexpectancyofitspeople.Use

toreferencethesourcewhereyoufoundthisinformation.

5.Comparethelifeexpectancyofthethreecountries.Basedonlifeexpectancy,which

countryhasthehigheststandardofliving?Theloweststandardofliving?

6.Denegrossnationalincomepercapita.

7.The World Bank is a great source of information on the world's economies.Go to http://

data.worldbank.org/indicator/NY.GNP.PCAP.PP.CD and nd the gross national income

percapitafortheUnitedState,Canada,andthecountryyouchoseinpart4.Compare

theGNIpercapitabetweenthethreecountries.BasedonGNIpercapita,whichcountry

hasthehigheststandardofliving?Theloweststandardofliving?Howdotheseanswers

comparetoyouranswersinpart5?

8.Whataretwootherwaystocomparestandardofliving?

2.IncomeEquality

Thefollowingarethe2019IncomeDistributionsforCanadaandtheUnitedStates.

AfterTax

Canada

U.S.

IncomeQuintilePercentofIncomePercentofIncome

FirstQuintile

7.7%

3.1%

SecondQuintile

13.3%

8.3%

ThirdQuintile

18%

14.1%

FourthQuintile

23.4%

22.7%

FifthQuintile

37.6%

51.9%

1.ConstructagraphshowingtheLorenzcurveforacountrywithperfectequality.Besure

tolabeltheverticalandhorizontalaxes.YoumayconstructthegraphusingExceloron

paperbyhand.

2.Onthesamegraph,labelperfectinequality

3.Onthesamegraph,graphtheLorenzcurveforCanadabasedontheinformation

providedabove.

4.Onthesamegraph,graphtheLorenzcurvefortheUnitedStatesbasedonthe

informationprovidedabove.

5.Basedonyourgraph,whichcountryhasgreaterincomeinequality?

6.Inthelecturevideo,youconstructedtheLorenzcurvesforCanadaandtheUSusing

2014data.WhathasbeenhappeningtoincomeinequalityinCanada?Whathasbeen

happeningtoincomeinequalityintheUS?

7.Gotohttps:

//data.worldbank.org/indicator/SI.POV.GINI?most_recent_year_desc=falseand

ndtheGiniCoecientforCanadaandtheUnitedStates.AccordingtotheWorld

Bank,whataretheGiniCoecientsforCanadaandtheUnitedStates?Accordingto

theGiniCoecients,whichcountryhasgreaterincomeinequality?Howdoesthis

comparetoyouranswerinpart5?

8.UsingtheinformationfromtheWorldBank,identifythecountrywiththegreatest

incomeinequality.WhatisthecountryandwhatisitsGiniCoecient?Pleasenotethat

GiniCoecientsaretypicallycalculatedbasedoncensusdata,sodierentcountries

wouldhavedierentyears.Ginicoecientsdonottypicallychangesubstantiallyfrom

yeartoyear.

9.UsingtheinformationfromtheWorldBank,identifythecountrywiththegreatest

incomeequality.WhatisthecountryandwhatisitsGiniCoecient?