Consider an economy of 10 people and two sectors (modern and traditional) with yearly incomes equal to
Question:
Consider an economy of 10 people and two sectors (modern and traditional) with yearly incomes equal to $1,000 and $2,000. Suppose that all growth proceeds by moving people from the traditional to the modern sector.
(a) Plot values of the Gini coefficient and the coefficient of variation as individuals move from the traditional to the modern sector.
(b) Can you invent a Lorenz-consistent inequality measure which does not display the inverted-U property in this case?
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Answer a Plot values of the Gini coefficient and the coefficient of variation as i...View the full answer
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