0.33 is the right answer for the first part. I just want to know how they got 0.33. Also the second part I need help on.Note:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. Consider the figure at right.The value of the Gini coefficient if area B is twice as large as area A is 0.33 (Enter yourresponse rounded to two decimal places.)Suppose that the Lorenz curve becomes more bowed, with the result that area B becomesexactly the same size as area A.The new value of the Gini coefficient is. (Enter your response rounded to twodecimal places)ameCumulative % of Money Income100-7550Complete EqualityInequality GapAActual moneyincome distributionB5075Cumulative % of Households100

It is a measure of national inequality. It tracks the distribution of income among the various…

Answered: 0.33 is the right answer for the first…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 7SCQ: Table 15.9 shows the share of income going to each quintile of the income distribution for the...

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0.33 is the right answer for the first part. I just want to know how they got 0.33. Also the second part I need help on.

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

Consider the figure at right.
The value of the Gini coefficient if area B is twice as large as area A is 0.33 (Enter your
response rounded to two decimal places.)
Suppose that the Lorenz curve becomes more bowed, with the result that area B becomes
exactly the same size as area A.
The new value of the Gini coefficient is. (Enter your response rounded to two
decimal places)
ame
Cumulative % of Money Income
100-
75
50
Complete Equality
Inequality Gap
A
Actual money
income distribution
B
50
75
Cumulative % of Households
100

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