Week 4

Question 1

Lorenz Curve and Gini coefficient

Answer 1

Question 2

Lorenz Curve and Gini coefficient (graph)

Answer 2

Question 3

The ‘r and g’ logic

Answer 3

Question 4

A simple model of the labour market

Answer 4

Question 5

Hecksher-Ohlin Theory

Answer 5

theory in economics explaining that countries export what can be most efficiently and plentifully produced. This model is used to evaluate trade and, more specifically, the equilibrium of trade between two countries that have varying specialties and natural resources. Emphasis is placed on the exportation of goods requiring factors of production that a country has in abundance and the importation of goods that a nation cannot produce as effectively.

Question 6

Governments (might) dislike inequalities

Answer 6