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An economy consists of 20 households, numbered from 1 to 20 in increasing order of income. Each Household has 4 members. Each household's income is reported in US dollars in the table below. Household No. Annual income (USD) Household No. Annual income (USD) 1 1500 11 12000 N 1800 12 15000 W 2500 13 15000 4500 14 15000 6000 15 16000 7000 16 17000 9000 17 20000 9500 18 22000 10000 19 25000 10 12000 20 28000 a. What is the economy's total income? (1 Marks) b. What is the share of the bottoms four households in total income? (1 Mark) c. What is the share of the richest four households in total income? (1 Mark) d. Compute the ratio of the top quintile's share in total income to that of the bottom quintile. (1 Mark) e. Draw Lorenz curve. (2 Marks) f. Calculate the Gini coefficient. (3 marks) Page 2 of 4 g. At the poverty line of 2 USD (2 US dollars) per person per day, what percentage of the population is living in poverty? (1 Mark) h. Calculate the poverty gap ratio for this economy. (2 Mark) i. What criticisms have been made of the World's Bank use of the 1 USD per day threshold to make cross-country comparisons of poverty? Discuss. (3 Marks) j. Discuss at least 5 policy measures implemented by the government of less developed countries (you can give an example from your country) to address inequality. (10 Marks)