Complete the multi-question economics problem using an income distribution data,

February 26, 2023February 26, 2023 Discipline: Economics
Learning Goal: I’m working on a economics multi-part question and need the explanation and answer to help me learn.

Answer the following questions:

  1. Carefully graph the Lorenz curve, labeling the axes.
  2. Explain how to find the Gini coefficient, graphically.
  3. Brazil’s national income is about $300 billion. What is the approximate dollar income of the bottom 20%? Bottom 40%?
  4. Brazil’s population is approximately 150 million. Suppose that each household makes the average income for its quintile. What is the level of poverty if the poverty line is $400 per capita?
  5. Suppose one percent of national income was transferred from the richest 20% of households to the poorest 20% of households. Show the effect on relative inequality. Under the same transfer, what is the effect on poverty?

*Can turn in doc,docx,pdf*

-Distribution data attached below, rubric as well.

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