Gce Model Questions Vol1 2023 Economics Question 50
Practice objective / multiple choice question 50 from the 2023 Gce Model Questions Vol1 Economics examination.
In a country the Lorenz curve for income distribution is given by \(L(p)=p^{k}\) where \(p\) is the cumulative proportion of the population and \(k>1\). The measured Gini coefficient is \(0.40\). (a) Determine the value of \(k\). (b) Using this \(k\), what proportion of total income is earned by the poorest 20 % of the population? Give your answer as a percentage to two decimal places.
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This is Gce Model Questions Vol1 2023 Economics Question 50. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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