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

question 288

Short Answer

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
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and that of high school teachers by the function
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Compute the coefficient of inequality for each Lorentz curve. Round your answers to the nearest hundredth.
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The coefficient of inequality for stockbrokers is __________.
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The coefficient of inequality for teachers is __________.
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Which profession has a more equitable income distribution?

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Definitions:

Capital Flight

The sudden and large-scale withdrawal of capital or assets from a country due to economic or political instability.

"Brain Drain"

The emigration of highly trained or qualified people from a particular country.

Aggregate Demand

A schedule or curve that shows the total quantity of goods and services that would be demanded (purchased) at various price levels.

World's Output

The total production of all goods and services across all countries in the world.