Question: Using data from a nation's census, an economist produced the following Lorenz curves for the distribution of that nation's income in 1962 and 1972. 7

Using data from a nation's census, an economist produced the following Lorenz curves for the distribution of that nation's income in 1962 and 1972. 7 3 f(x) = 10 -X+ 10 Lorenz curve for 1962 1 g(x) = Lorenz curve for 1972 Find the Gini index of income concentration for each Lorenz curve and interpret the results. . . Identify the integrand for the computation of the Gini index for 1962 and 1972. - - The Gini index for 1962 is given by 2 | ( ) dx and the Gini index for 1972 is given by 2 () O 0 Compute the Gini index for 1962. The Gini index for 1962 is (Round to three decimal places as needed.) Compute the Gini index for 1972. The Gini index for 1972 is. (Round to three decimal places as needed.) Interpret the results. was equally distributed in 1972 as compared to 1962, because the Gini index for 1972 was than the Gini index for 1962

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