Question

The national income distribution in the United States in 2007 follows a Lorenz curve y = L(x) which passes through these points: x 0 0.2 0.4 0.6 0.8 1 y 0 0.051 0.156 0.311 0.536 1 Use the Trapezoid Rule to estimate the GINI Index for the United States in 2007. The national income distribution in the United States in 2016 follows a Lorenz curve y = L(x) which passes through these points: x 0 0.2 0.4 0.6 0.8 1 y 0 0.05 0.152 0.305 0.531 1 Use the Trapezoid Rule to estimate the GINI Index for the United States in 2016. Compared with 2007, was the income distribution in the United States in 2016 more equal or less equal? less equal more equal

Answer 1

Answer:

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