c Another measure of the distribution of wealth in an economy is given by the

C another measure of the distribution of wealth in an

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(c) Another measure of the distribution of wealth in an economy is given by the Gini Index.The lower the index,the more the wealth is spread throughout the population.Open Google and search ”CIA Gini rankings”.Fromthe list that appears, state the Gini Index for each of the following countries.Gini Index fori. Romania:27.3ii. Canada:32.1iii. United States: iv. Brazil: (d) Find the area between the line of equalityy=xand the Lorenz curve for the country withL(x) =x2ex3-1. (e) A country’s Gini Index is defined to be:200×( area between the line of equality and the country’s LorenzcurveL(x) )i. Use the result in part (d) to find (to 1 decimal) the Gini Index for the country with Lorenz curveL(x) =x2ex3-1. ii. Looking at the CIA Gini rankings webpage (part (c)), what country has an index closest to that in part(e)(i)? Grade: 18 18

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