Deriving Lorenz Curve Area from Gini Coefficient
In a diagram representing a country's income distribution, the Gini coefficient is 0.4. The area of inequality (the region between the line of perfect equality and the income distribution curve) is 0.2. Calculate the area under the income distribution curve.
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A diagram is used to represent the income distribution of a country. The area between the line of perfect equality and the country's distribution curve is calculated to be 0.20. The area under the country's distribution curve is 0.30. Based on this information, what is the Gini coefficient for this country?
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Deriving Lorenz Curve Area from Gini Coefficient
In a diagram representing income distribution, the area between the line of perfect equality and the distribution curve is designated as 'A', and the area under the distribution curve is designated as 'B'. If area 'A' is exactly equal to area 'B', the resulting inequality coefficient would be 0.5.