The government of a small country is planning sweeping changes in the tax structure in order to provide a more equitable distribution of income. The Lorenz curves for the current income distribution and for the projected income distribution after enactment of the tax changes are as follows. ​f(x) = x2.1 Current Lorenz curve ​g(x) = 0.6x+0.4x2 Projected Lorenz curve after changes in tax laws Find the Gini index of income concentration for each Lorenz curve. Will the proposed changes provide a more equitable income​ distribution? Explain.   Identify the integrand for the computation of the current and projected Gini indices.   The current Gini index is given by 2 ∫ 0 1  ....... dx and the projected Gini index is given by 2 ∫ 0 1 ...... dx

Using data from a​ nation's census, an economist produced the following Lorenz curves for the distribution of that​ nation's income in 1962 and 1972. ​f(x) = 3x  +2 x2 5       5 Lorenz curve for 1962 ​g(x) = 2  x+ 3 x2 5       5 Lorenz curve for 1972 Find the Gini index of income concentration for each Lorenz curve and interpret the results.   Identify the integrand for the computation of the Gini index for 1962 and 1972.   The Gini index for 1962 is given by2 ∫ 0 1   .......  dxand the Gini index for 1972 is given by 2 ∫ 01 .......... dx.

Suppose one third of all families on the island of Sophia had zero income in a given year and the other two-thirds had the same positive income. Draw the Sophia Lorenz curve for this island's family income distribution. Also compute the Gini coefficient.

The American Community Survey (ACS) is an ongoing nationwide survey conducted by the United States Census Bureau. The ACS provides data on income levels classified by race, gender, educational attainment, employment status and housing characteristics, among other categories. This data is used by many organizations, both public and private, to allocate funds and assess the changing conditions in local communities.   According to the ACS, poverty rates in the United States are HIGHER/LOWER for part-time workers than they are for full‑time workers.   According to the ACS, poverty rates in the United States are HIGHER/LOWER for black individuals than they are for white individuals.   Suppose that the least expensive plan with which a family of four can provide itself a nutritionally balanced meal plan in 1963 is $820 .   Given this information, what is the poverty threshold in 1963 for a family of four? poverty threshold: $