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Can someone help me for this question? Consider the following (very roughly measured) distribution of income in the economy, Share of Households Cumulative Share of
Can someone help me for this question?
Consider the following (very roughly measured) distribution of income in the economy, Share of Households Cumulative Share of Income /4 4- Thus, the distribution function says that the lower half of the households earns one fourth of the total income in the society. 1. Draw the Lorenz-curve for the economy. 2. Calculate the Gini-coefficient. Part II: Redistributing Income (0.5 mark)Step by Step Solution
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