Hi there, I have got 3 set of economics problem. Please find attachments.

AN INTRODUCTION TO DEVELOPLMENT ECONOMIC

Question 1. (Points 1)

Why is Congo so poor despite having 24 trillion dollars’ worth of minerals? Watch the following video and summarize the main points.

https://www.youtube.com/watch?v=76NnL0m3C54

Question 2. (Points 2)

Download the data for question 2 and answer the following questions:

1. Calculate the poverty rate (headcount method) using the poverty line, BDT. 100.

2. How much money the government (BDT=Bangladeshi Currency) requires eliminating poverty?

3. On average, how much money does the government requires per person to eliminate poverty?

4. Suppose that Bangladesh does not have enough money to eliminate poverty as a developing country. The government could manage some money from domestic and external sources and provide income assistance equivalent to 25% income of the first two decile groups. Due to this 25% income assistance to the bottom two decile groups, how does that impact on poverty rate (a) and poverty gap (b)? Show your calculations.

Question 3. (Points 2)

Download the data for question 3. Choose any country (except Afghanistan, will show this in class) and calculate following for 1980 and 2014:

1. Carefully graph the Lorenz curve (separately for 1980 and 2014), labeling the axes.

2. Find the Gini coefficient and comments on it (compare 1980 and 2014).

3. If we increase 25% income of the first 2 decile groups, what is the impact on and inequality? Show your calculations for 1980 and 2014.

(Tips: You can check this website https://www.core-econ.org/doing-economics/book/text/05-02.html#figure-5-3c for calculation and formula help)