"If the Distribution of Income Was Equal, the Lorenz Curve

question 38

Short Answer

"If the distribution of income was equal, the Lorenz curve would be a straight, 45° line." Is the previous statement correct or incorrect?

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Definitions:

Impersonality

The quality of being devoid of personal feeling or bias, often associated with objectivity or detached professionalism.

Division of Labor

The assignment of different tasks to different people or groups in an organization to increase efficiency and productivity.

Span of Control

The number of subordinates or units that a manager or leader can directly control or supervise effectively.

Horizontal Specialization

The division of work in an organization into distinct tasks, with each employee or department focusing on a specific subset of activities, promoting expertise in those functions.