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Kindly help me with a problem that I have in economics. Everything is completely provided. No information or data is missing. Thank you Exercise 2.

Kindly help me with a problem that I have in economics. Everything is completely provided. No information or data is missing. Thank you

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Exercise 2. Inequality (6 points) Let country X have an income distribution where 40% of the population holds the entire national income. Tip: On your draft paper, try sketching the Lorenz curve for this country to have a clearer image of its distribution. You do not need to report your graph. Assume that, within this group, the income is equally distributed. Finally, recall the surface of a triangle can be computed as the length of its base, times the length of its height, divided by two. a. Compute the gini coefficient for this economy. Provide a detail explanation of the procedure you have used to obtain it. (4 points) b. According to this result, would country X show a more or a less unequal distribution of income with respect to another country that has a gini coefficient of 0.3? Explain your answer (2 points)

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