Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Internationally, Gini coefficient is a measure of income inequity. It is between zero and one. (a) Please use your language or graphs to show how

Internationally, Gini coefficient is a measure of income inequity. It is between zero and one.

(a) Please use your language or graphs to show how to measure Gini Coefficient?

(b) After a study about the income bracket in the US, you found the household real income of middle class, e.g. $50,000 to $99,000 has been decreasing in the percentage of total population in the past 20 years. But the share of high-income ($100,000 and above) has increasing over time. How this change would affect the US Gini coefficient? Please present details of your answer.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Slavery And American Economic Development

Authors: Gavin Wright

1st Edition

0807152285, 9780807152287

More Books

Students also viewed these Economics questions

Question

What is Larmors formula? Explain with a suitable example.

Answered: 1 week ago