In a study on the effects of World War II on the U.S. economy, an economist used

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In a study on the effects of World War II on the U.S. economy, an economist used data from the U.S. Census Bureau to produce the following Lorenz curves for the distribution of U.S. income in 1935 and in 1947:

Find the Gini index of income concentration for each Lorenz curve and interpret the results.

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

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Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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In a study on the effects of World War II on the U.S. economy, an economist used

Question:

2.4 f(x) = x Lorenz curve for 1935 8(x) = x1.6 Lorenz curve for 1947

Step by Step Answer:

The Gini index is a measure of income inequality that ranges from 0 perfect equality to 1 perfect in...View the full answer

College Mathematics For Business Economics, Life Sciences, And Social Sciences

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