Q1-. Consider three regions of a country with the following hypothetical income distribution data for four equal segments of the population. Population % Region A Region B Region C bottom 25% 0.05 0.10 0.02 2nd 25% 0.15 0.15 0.10 3rd 25% 0.30 0.20 0.25 top 25% 0.50 0.55 0.63 a) Draw the Lorenz curves for the three regions. b) What can you conclude about the level of inequality among the three regions from the graph. List the Regions by order of inequality (from lowest to highest) Q2-. Explain why a Lorenz curve can never lie above the 45° line. Under what circumstance would the Lorenz curve lie above the 45° line Q3-. Using a Lorenz curve diagram, explain how to calculate the Gini coefficient

The values in the table reflect the percentages of pre-tax-and transfer income. 22. Refer to Table 20-1. The trend in income inequality from 1980 to 2010 is 23. Refer to Table 20-1. If the distribution of income were completely equal, what percentage of income would the bottom fifth of the population earn? 24. A government policy aimed at protecting people against the risk of adverse events is called

5- Calculate Gini coefficient for a country with the following deciles in income share data: Country X: 30 (richest quantile) 20 What is the area under the Lorenz Curve? Please show your diagram. 10 5 5 5 5 3 2

quintile cumulativeshare of households a cumulative share of income b cumulative share of income poorest   10.5   2.5   2nd   13.2   6.8   middle   21.6   13.9   4th   26.4   24.2   richest   28.3   52.6

Q6

The following table shows the approximate income distribution for Peru, Bulgaria, and Lithuania in 2016. In particular, it shows the income shares of each fifth of the income distribution. Percentage Share, 2016 Percentage of Families Peru Bulgaria Lithuania Lowest fifth 4 9 7 Second-lowest fifth 8 14 12 Middle fifth 12 17 16 Second-highest fifth Highest fifth 20 22 22 56 38 43 has the most total income. On the following graph, plot the Lorenz curves for the three countries. Plot Peru's Lorenz curve using the green points (triangle symbol), Bulgaria's Lorenz curve using the blue points (circle symbol), and Lithuania's Lorenz curve using the purple points (diamond symbol). Be sure to plot the first point of each Lorenz curve at (0,0). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. CUMULATIVE PERCENTAGE OF MONEY INCOME graph.) 20 100 20 40 60 80 100 CUMULATIVE PERCENTAGE OF FAMILIES Peru Bulgaria Lithuania…

Questions Explain three methods of measuring the income inequality of a nation?  Page 3 other 2 pages in the pic As in the case of income distribution, calculation of wealth distribution is done by different entities using different measurements, resulting in a disparity in outcomes. In fact, commonly, wealthis narrowly defined as financial wealth—namely, cash on handand the money value of tangible and nonliquid assets. Even justthe market valuation of financial portfolios is commonly used todefine financial wealth. However, some may extend the definitionto include the value of income streams and insurance rights that,for the most part, cannot be transacted or encumbered. Theseinclude Medicare, Medicaid, and Social Security. When suchtransfers and public assistance are included, the poor and manyelderly could benefit, reducing the wealth disparity (Galbraith2016). To obtain net wealth, the value of the debts are subtractedsubtracted from the value of the assets. Galbraith stated…

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1. See the income distribution of two countries below: Population Poorest 20% Next 20% Next 20% Next 20% Next 20% Absalia Calculate the Gini coefficient for both countries. 5% 10% 15% 25% 45% Belos 10% 20% 20% 20% 30% 2. Based on your answer to the question above, if the Gini coefficient for South Africa is 0.63, which country (Absalia or San Belos) has relatively more income equality as compared to South Africa? a. Both Absalia and San Belos b. Absalia c. Belos d. None 3. Explain the role of environment and intelligence on IQ and on economic status.

QUESTION 43 The Gini coefficient can be approximated from the Lorenz curve by the g=A/(A+B), where A is the area between the Lorenz curve and the 45-degree line and A +B is the area under the 45-degree line. Consider a population with three members and an aggregate income of 100. Which of the following statements are correct? O When the incomes are (50, 50, 0), the approximated Gini coefficient is 0.5. When the incomes for the thre members are (100/3, 100/3, 100/3), the approximate Gini coefficient is 0. O When the incomes are (100, 0, 0), the approximated Gini coefficient is 1. O A gini coefficient of 1 implies complete equality.