Economists believe that historically, countries with more income inequality have had lower unemployment rates. For example, an economist in 1996 developed the table below containing the following information for 10 countries during the 1980-1995 time period:
· The change from 1980 to 1995 in ratio of the average wage of the top 10% of all wage earners to the median wage
· The change from 1980 to 1995 in unemployment rate.
Income inequality vs. Unemployment rate 
-Explain why the ratio of the average wage of the top 10% of all wage earners to the median measures income inequality.
Definitions:
Animal Waxes
Waxy substances produced by animals, often used for protection or waterproofing.
Fatty Acid
Long chain hydrocarbons with a terminal carboxyl group, which are components of many types of lipids (fats and oils).
Alcohol
A compound consisting of carbon, hydrogen, and oxygen, commonly used in beverages, antiseptics, and fuels.
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