Question 1. An economy consists of 20 households, numbered 'om 1 to 20 in increasing order of income. Each Household has 5 members. Each household's income is reported in US dollars in the table below. Hountlnid No. Annual income [USU] Hnmhnld No. Annual income [USD] 1 - 1500 11 12000 2 Law 12 15000 2020 15000 15000 What is the economy's total income? What is the share of the bottom four households in the total income? What is the share of the richest four households in ne total income? Compute the ratio ofthe top quintile's share in total income to that ofthe bottom quintile. Drawthe Lorenzcurve. Calculate the Geni coefficient At the poverty line of] USDperpersonperday,what percentage ofthe population is living in poverty? Calculate the poverty gap ratio for this economy. What criticisms have been made of the World Bank's use of the 1 USD per day threshold to make crosscomm)! comparisons of poverty? Discuss. Discuss at least 5 policy measures implemented by the government of Is developed countries (you can give an example from the pacic country) to address inequality