Household income data, by quintile, for Sweden and South Africa are given in the following table There is also Gini coefficient data a) On one graph, plot accurate Lorenz curves for both countries b) Comment on the difference in the distribution of income between the two countries c) Using the valu...

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Household income data, by quintile, for Sweden and South Africa are given in the following table. There

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Household income data, by quintile, for Sweden and South Africa are given in the following table. There is also Gini coefficient data. image text in transcribed

a) On one graph, plot accurate Lorenz curves for both countries.

b) Comment on the difference in the distribution of income between the two countries.

c) Using the values for the Gini coefficients given in the last row, comment on the relationship between the Lorenz curve and the Gini coefficient.

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Economics Course Book 2020

ISBN: 9781382004961

2020 Edition

Authors: Jocelyn Blink, Ian Dorton

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Question Posted: Mar 02, 2024 06:00 AM

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Household income data, by quintile, for Sweden and South Africa are given in the following table. There

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1st quintile [poorest) 2nd quintile 3rd quintile 4th quintile 5th quintile (richest) Gini coefficient Sweden 9.0 14.1 17.7 22.9 36.3 27.2 South Africa 2.5 4.7 8 15.9 68.9 63.4

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