summary statistic that measures how equitably income is distributed in a population. It is derived from the Lorenz curve which plots the cumulative percentages of the income and the population against which it is distributed. The line at 45 degrees thus represents perfect equality of incomes. The Gini coefficient is the ratio of the area that lies between the line of equality and the Lorenz curve divided by the total area under the line of equality. A Gini coefficient of 0 represents perfect equality
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Australia and China Similarities and Differences Australian links with China extend well beyond the last 40 years at an official and non-official level. Their economic relationship has grown rapidly in recent times‚ especially the trade relationship. From being distant partners‚ the trade relationship is one of the key strands linking the two countries. Economic Growth and Quality of life Australia’s economic outlook is deteriorating. The commodity boom‚ predicted to go on forever‚ is
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ranked 30th in this world‚ which means South Korean people have enough money to afford coffee‚ so the coffee demand in South Korea may not influenced by the price so much. The Gini index is a standard economic measure of income inequality‚ based on Lorenz Curve. A society that scores 0.0 on the Gini scale has perfect equality in income distribution. Higher the number over 0 higher the inequality‚ and the score of 100 indicated total inequality where only one person corners all the income (Business Dictionary)
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method of measuring. As explained by the World Bank‚ the coefficient varies between 0‚ which reflects complete equality‚ and 1‚ which indicates complete inequality. Graphically‚ the Gini coefficient can be easily represented by the area between the Lorenz curve and the line of equality. Causes for Inequality There are many causes for economic inequality within societies. The factors that affect disparity the most are: market economies‚ and access to education. Market economies became a major cause of
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or consumption expenditure among individuals households within an economy deviates from a perfectly equal distribution." Therefore it is used as an indication of income inequality within countries. Practically‚ it measures the area between the Lorenz curve‚ a standard indicator of the distribution of income within a community‚ and a hypothetical line of absolute equality‚ expressed as a percentage of the maximum area under the line. In this index‚ 0 represents perfect equality‚ while 100 perfect
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Spring 2013 Econ 471 Prof. Bee-Yan Roberts COVER PAGE TO PROBLEM SET #1 Printed Name: While you are permitted to work together as a group‚ you must write out the answers on your own (preferably in a separate room) without any help from those in the group. Problem sets with similar answers in any question will receive a grade of zero. I have not received any help and I have not provided help to other students in writing up the answers to this problem
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displaying data from a simple experiment Materials: Meter stick‚ tape‚ and a ball is needed to perform this experiment. Theory: The graph of function is the collection of all ordered pairs graphing on a cartesian plane is sometimes referred to as a curve sketching. Experimental Procedures: Position a meter stick vertically on a flat surface‚ such as a wall or the of a lab bench. be sure the metric scale of the meter stick is on the outside and secure the meter stick to the wall or lab bench with
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FERGUSON AND BEZIER CURVES Palash Luthra Sachin Maheshwari Netaji Subhas Institute of Technology New Delhi-110078 India 1. CURVES-DEFINITION 2. NEED OF CURVES March 2013 A line or outline that gradually deviates from being straight for some or all of its length. Curves play a very significant role in CAD modeling‚ especially‚ for generating a wireframe model‚ which is the simplest form for representing a model. We can display an object on a monitor screen in three different computer-model forms:
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Learning curve in psychology and economics The first person to describe the learning curve was Hermann Ebbinghaus in 1885. He found that the time required to memorize a nonsense word increased sharply as the number of syllables increased.[1] Psychologist‚ Arthur Bills gave a more detailed description of learning curves in 1934. He also discussed the properties of different types of learning curves‚ such as negative acceleration‚ positive acceleration‚ plateaus‚ and ogive curves.[2] In 1936‚ Theodore
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factors that impact the shape of the yield curve but monetary authorities influence greatly the shape of the yield curve .Monetary authorities influence the shape of the yield curve by initiating either a contractionary monetary policy or an expansionary monetary policy.A yield curve is a line that plots the interest rates‚ at a set point in time‚ of bonds having equal credit quality‚ but differing maturity dates. The most frequently reported yield curve compares the three-month‚ two-year‚ five-year
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