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Suppose country A has 100 citizens with two income groups

Economics

Suppose country A has 100 citizens with two income groups. There are 10 people in high income group who make $90,000 a year and the rest are in the low income group and make $10,000 a year. Suppose country B has 100 citizens with two income groups. There are 10 people in high income group who make $99,000 a year and the rest are in the low income group and make $9,000 a year. Suppose country C has 100 citizens with two income groups. There are 5 people in high income group who make $105,000 a year and the rest are in the low income group and make $10,000 a year. 1. What is the Gini coefficient of country A? 2. What is the Gini coefficient of country B? 3. What is the Gini coefficient of country C? 4. Which country has the lowest inequality as defined by the Gini coefficient? 5. Which country would you rather live in? Explain.

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