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5. The Government of Bambooz has published the following income distribution data. (20 points) Quintile Average Income, 2,000 4,000 5,400 7,500 14,000 Quintile % GNI 12.2 16.4 22.8 42.5 4 a) Calculate the % share of GNI for each quintile and the cumulative % share of GNI for each cumulative share of the total population. Then plot the Lorenz Curve from the information. Call this Lorenz I. (10 points) b) Suppose that each quintile has ten persons and that there are 50 people in Bambooz, If everyones income increases by a constant dollar amount, does inequality decline? Illustrate this by showing what happens to the Lorenz curve vou derived in part (a). Label this Lorenz 11. (10 points)

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