In an effort to make the distribution of income more nearly equal, the government of a country passes a tax law that changes the Lorenz curve from y = 0.95x2.1 for one year to y = 0.32x2 + 0.68x for the next year. Find the Gini coefficient of income for both years. (Round your answers to three decimal places.)
In an effort to make the distribution of income more nearly equal, the government of a country passes a tax law that changes the Lorenz curve from y = 0.95x2.1 for one year to y = 0.32x2 + 0.68x for the next year. Find the Gini coefficient of income for both years. (Round your answers to three decimal places.)
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 40E
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In an effort to make the distribution of income more nearly equal, the government of a country passes a tax law that changes the Lorenz curve from
y = 0.95x2.1
for one year to
y = 0.32x2 + 0.68x
for the next year. Find the Gini coefficient of income for both years. (Round your answers to three decimal places.)
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