Concept #1: Lorenz Curve and the Gini Coefficient
Practice: Which of the following would represent the Lorenz curve of an nation where everyone earned equal income?
Practice: Which of the following is true regarding the Gini coefficient?
Practice: The country of Newland has a Lorenz curve where the area between the line of equal distribution and the Lorenz curve is 0.22 and the area below the Lorenz curve is .46. What is the Gini coefficient for Newland?