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Analyzing Income Inequality: Lorenz Curves and Gini Coefficients Among Three Countries

This assignment examines income inequality across three different countries by analyzing their income distributions across quintiles. The income data reveals stark contrasts: MyCountry shows gradual increases in income distribution, YourCountry maintains a consistent income across quintiles, while TheOtherCountry exhibits extreme inequality with 96% of income concentrated in the top quintile. We will represent this data graphically using Lorenz curves for each country and calculate the Gini coefficients to quantify the degree of inequality. A comparative analysis will highlight the disparities in income distribution.

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Analyzing Income Inequality: Lorenz Curves and Gini Coefficients Among Three Countries

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  1. Labor Econ Assignment on Income Inequality

  2. Say you have three economies with with the following income distributions, listed by low % of income to high % of income in quintiles. Country low qunit next quint 3rd 4th 5th Mycountry 10 15 20 25 30 Yourcountry 20 20 20 20 20 Theothercountry 1 1 1 1 96 Make one graph. Draw in a reasonable representation of the Lorenz curve for each country. Calculate the Gini coefficient in each country. Write a few sentences comparing the degree of income equality/inequality between the countries.

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