(a) Draw a Lorenz curve and calculate the Gini coefficient for the 1979 wealth data contained in Problem 1.5 (Chapter 1). Draw the Lorenz curve on the same diagram as you used in Problem 10.17.

(b) How does the answer compare to 2001?

Problem 10.17

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Class interval Numbers (thousands) 0-9 999 3 417 10 000-24 999 1 303 25 000-39 999 1 240 40 000-49 999 714 50 000-59 999 642 1 361 1 270 60 000-79 999 80 000-99 999 100 000-149 999 2 708 1 633 1 242 150 000-199 000 200 000-299 000 300 000-499 999 870 500 000-999 999 367 1 000 000-1 999 999 125 2 000 000 or more 41 Total 16 933