Here is the question. Please provide relevant explanation in detail

thank you

Here's a weird but easy to calculate economy. Suppose everybody in the economy experiences exactly same life story: start working for free at age 1 for $1fhour, and then has a wage increase $1 every year until age 100. That is, a person who is 20 years old makes $201hour, a person who is 45 years old makes $45fhour, and so on. Every year, one person is bom, and 1 person reaches age 100 and dies. Everyone lives for 100 years. That is, at any point in time, the economy is made of 100 people, 1 person who is aged 0 (been born in the current year), 1 person aged 1, 1 person aged 2, 1 person aged 3, ..., all the way to 1 person aged 99, each earning their age in dollars per hour. a. Calculate the Gini coefficient for this economy. (4) b. The current estimates of Gini around the world ranges 'om (the lowest in the world) 23 .7 in Slovenia to (the highest 1n the world) 63. 2 1n Lesotho. How does our imaginary economy compare to the real-world countries? (that 15, is it unusually high, unusually low, or about average?) (1) c. In your opinion, is the income inequality in our imaginary economy a bad thing and requires that the government redistributes incomes? Explain why or why not. (3)