In a Study Conducted by a Certain Country's Economic Development

question 194

Essay

In a study conducted by a certain country's Economic Development Board, it was found that the Lorentz curve for the distribution of income of stockbrokers was described by the function and that of high school teachers by the function Compute the coefficient of inequality for each Lorentz curve.Round your answers to the nearest hundredth.
The coefficient of inequality for stockbrokers is __________.
The coefficient of inequality for teachers is __________.
Which profession has a more equitable income distribution?

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Definitions:

Floating Exchange Rates

A system in which the value of a currency is determined by the forex market based on supply and demand relative to other currencies, unlike fixed exchange rates that are tied to a physical commodity or another currency.

Gold Convertible

A financial system where a country's currency has a fixed value in terms of gold, allowing it to be exchanged for a specified amount of gold.

Balance-of-Payment Deficits

A situation in the balance of payments where the payments made by a country for its imports, investments abroad, and other outflows are greater than the inflows from exports, foreign investments, etc.

Japanese Yen

The official currency of Japan, known globally as a major currency for trade and finance.