18. (10 points) Consider the following statistics describing a country. • Population: 10 people • Poverty line: $2.00 •

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18 10 Points Consider The Following Statistics Describing A Country Population 10 People Poverty Line 2 00 1 (84.04 KiB) Viewed 13 times

18. (10 points) Consider the following statistics describing a country. • Population: 10 people • Poverty line: $2.00 • There are 4 people below the poverty line: - Person A earns $1.20 per day - Person B earns $1.80 per day 7 Person C earns $0.50 per day - Person D earns $1.50 per day a. (2 points) Calculate and interpret the headcount ratio index. b. (4 points) Calculate the total poverty gap and average poverty gap. (Show your calculations) c. (4 points) Calculate the average income shortfall and normalized income shortfall. (Show your calculations)