, draw the lorenze curce and find the Gini coefficient for each area, using Excel. Explain how the income inequality level can be improved. 4.Based on the information about individuals and their incomes in two areasbelow,Area AIndividual Income180000111111111600004500030000250002000019000180001500010000Individual1111111Area B11Income45000350003300030000250002100019000170001400012000draw the lovenze curce and find the Gini coefficient for each area, using Excel.Explain how the income inequality level can be improved.

The Gini Coefficient highlights the presence of a high percentage of inequality in the economy. It…

Based on the information about individuals and their incomes in two areas below, Area A Individual Income 80000 60000 1 1 45000 30000 25000 20000 19000 18000 15000 10000 Area B Individual Income 45000 35000 1 33000 30000 25000 21000 19000 17000 14000 12000 draw the lovenze curce and find the Gini coefficient for each area, using Excel. Explain how the income inequality level can be improved.

Based on the information about individuals and their incomes in two areas below, Area A Individual Income 80000 60000 1 1 45000 30000 25000 20000 19000 18000 15000 10000 Area B Individual Income 45000 35000 1 33000 30000 25000 21000 19000 17000 14000 12000 draw the lovenze curce and find the Gini coefficient for each area, using Excel. Explain how the income inequality level can be improved.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 6SCQ: A group 0f 10 people have the following annual incomes:...

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LIVING IN SPAINJackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private…
6. omi Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Chack my Quintile of 1st Population Quintile's % of Income, Croatia, 2000 2nd 3rd 4th 5th 8 13 17 22 40 Quintile's % of Income, Croatia, 2010 14 18 22 37 es Quintile's % of Income, United States, 2010 5 10 14 20 51 United States data from the Congresslonal Budget Office at CBO.gov. Before-tax Income, rounded to whole %s. Data for other countries from WorldBank.org, rounded to whole %s. Report your answers to two decimal places. According to these data, the Gini coefficient for Croatia in 2000 is
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A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to overall utility in the…
A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to the overall utility of the…