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15. Two people live in Yolo County. Person 1 has income equal to zero. Person 2...
2. Gini Index Income Decile Income Share 0.05 0.1 0.15 0.2 0.25 0.35 un 0.45 1...
2. Gini Index Income Decile Income Share 0.05 0.1 0.15 0.2 0.25 0.35 un 0.45 1 a. Graph the Lorenz Curve for the table above. (If it helps to be more precise than the table: the Lorenz curve has a slope of 0.05 from 0 to 0.5 of the income distribution, a slope of 0.1 from 0.5 to 0.8 on the income distribution, and a slope of 0.2 from 0.8 to 1 on the income distribution) b. Calculate the Gini...
1. If the distribution of income in country "C"is (1, 2, 2, 3, 5), and in...
1. If the distribution of income in country "C"is (1, 2, 2, 3, 5), and in country "D" it's (1, 1, 2, 3, 5). The poverty line in both countries is 2.5 a) By the average income shortfall (AIS) measure which country has more poverty? b) By the headcount index measure which country has more poverty? C) By the average poverty gap (APG) which country has more poverty? d) Calculate the FGT index for each country using p-alpha = 2
Question 2 Consider countries A and B, each with a population of cight individuals and an...
Question 2 Consider countries A and B, each with a population of cight individuals and an income per capita equal to S5 USD dollars (PPP) per day. Tables 1 and 2 provide the information on income for each individual in country A and B, respectively. The poverty line is z-S5 USD Dollars (PPP) per day. Your job is to calculate and report the different FGT poverty indexes for each country remembering that: To do so, complete the following steps. a)....
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient 1. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz...
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve Percentage of Population...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? I i. What does a high number indicate? b. (Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 0 100...
Imagine a room containing fourteen people, whose ages are as follows: one person aged 14, one person aged 15, three people aged 16, two people aged 22, two people aged 24, five people aged 25 This ag...
Imagine a room containing fourteen people, whose ages are as follows: one person aged 14, one person aged 15, three people aged 16, two people aged 22, two people aged 24, five people aged 25 This age distribution is summarized in the following plot, where j is age, and N() is the number of people in the room that have age j (a) Write a formula for the probability that a random person from the room has age j (b)...
both 2. Number Cards: There are 25 people sitting around a table, and each person has...
both
2. Number Cards: There are 25 people sitting around a table, and each person has two cards. One of the numbers 1, 2, 3, , 25 is written on each card, and each number occurs on exactly two cards. At a signal, each person passes one of her cards the one with the smaller number to her right-hand neighbor. Prove that, sooner or later, one of the players will have two cards with the same numbers. 3. Airplane: Imagine...
An individual only purchases two goods X and Y . The person has an income of...
An individual only purchases two goods X and Y . The person has an income of $100. The price of X is $2 per unit and the price of Y is $4 per unit. The utility function of this individual is U = 3X +5Y . This means the person has a constant marginal utility of 3 and 5 for goods X and Y , respectively. What bundle of goods X and Y should the person buy to maximize utility....
2. Gini Index Income Decile Income Share 0.05 0.1 0.15 0.2 0.25 0.35 un 0.45 1 a. Graph the Lorenz Curve for the table above. (If it helps to be more precise than the table: the Lorenz curve has a slope of 0.05 from 0 to 0.5 of the income distribution, a slope of 0.1 from 0.5 to 0.8 on the income distribution, and a slope of 0.2 from 0.8 to 1 on the income distribution) b. Calculate the Gini...
1. If the distribution of income in country "C"is (1, 2, 2, 3, 5), and in country "D" it's (1, 1, 2, 3, 5). The poverty line in both countries is 2.5 a) By the average income shortfall (AIS) measure which country has more poverty? b) By the headcount index measure which country has more poverty? C) By the average poverty gap (APG) which country has more poverty? d) Calculate the FGT index for each country using p-alpha = 2
Question 2 Consider countries A and B, each with a population of cight individuals and an income per capita equal to S5 USD dollars (PPP) per day. Tables 1 and 2 provide the information on income for each individual in country A and B, respectively. The poverty line is z-S5 USD Dollars (PPP) per day. Your job is to calculate and report the different FGT poverty indexes for each country remembering that: To do so, complete the following steps. a)....
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient 1. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 100 Percentage of Population Figure 2 2) (10) Describe...
Problem 4 Economic Inequality (20 points) 1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? b. (6) Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve Percentage of Population...
1) Figure 2 below is an image of a Lorenz curve. a. (4) When the Lorenz curve sags lower, does that mean the economy is more equal or more unequal? I i. What does a high number indicate? b. (Explain how to use the information in Figure 2 to calculate the Gini coefficient. i. What is the typical range for Gini coefficients? ii. What does a high number indicate? 100 Perfect Equality Line Percentage of Income Lorenz Curve 0 100...
Imagine a room containing fourteen people, whose ages are as follows: one person aged 14, one person aged 15, three people aged 16, two people aged 22, two people aged 24, five people aged 25 This age distribution is summarized in the following plot, where j is age, and N() is the number of people in the room that have age j (a) Write a formula for the probability that a random person from the room has age j (b)...
both
2. Number Cards: There are 25 people sitting around a table, and each person has two cards. One of the numbers 1, 2, 3, , 25 is written on each card, and each number occurs on exactly two cards. At a signal, each person passes one of her cards the one with the smaller number to her right-hand neighbor. Prove that, sooner or later, one of the players will have two cards with the same numbers. 3. Airplane: Imagine...
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