Exercise 2 (40 points) Solve the following questions on inequality (a) Define and illustrate the Gini index. (b) Shortly explain whether the Gini index is a better or worse indicator than the 90-10 or 80-20 share ratios. Why or why not? (c) Calculate the Gini index for a hypothetical economy in which the population is equal to 5 where the first, second, third, the fourth and the fifth individual earn 5K, 10K, 15K, 20K, and 50K, respectively. (d) Calculate the 80-20 share ratio for the same economy