05 Jun Read these instructions carefully!
Question
Read these instructions carefully!
Carefully answer each of the questions below.
You need to show your work, not just the final answer
You can write or type your answers for the questions
Please put your name and PSU ID number at the top of the 1st page
You may use as many sheets of paper as you need.
If you did parts by hand:
o Scan your entire document (including the parts you typed and the parts done by hand)
o Save the file on your computer (.PDF format preferred) and then upload it to the ANGEL
dropbox for this homework assignment.
o Merge the separate PDFs into one file using a service such as (PDFMerge!)
o Failure to submit a single file will result in points being deducted
If you typed everything:
o Save the file on your computer (.doc or .docx format) and then upload it to the ANGEL dropbox
for this homework assignment.
o Be sure your assignment is all on one file. Failure to submit a single file will result in points
being deducted
Homework 2 ECON 471
1. Which will be larger for a country: PG or APG? Please explain. (8 points)
2. Country A and Country B have the same population of 200 million. Use the figures in the table below to
calculate the head-count ratio and average poverty gap in each country. Finally, carefully interpret the
results. (8 points)
Income Distribution below poverty line ($1 per day)
25 cents per day
50 cents per day
75 cents per day
Country A (millions of people)
90
30
30
Country B (millions of people)
10
60
80
3. Can the Lorenz curve slope downward? Please explain. (8 points)
4. This table below reports the distribution of income in Canada and the United States.
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