Find the gini coefficient of income

Reference no: EM131798839

Question: Income distribution in 1969, after the "Great Society" initiatives of the Johnson administration, the Lorenz curve for the U.S. income distribution was L(x) = x^2.1936. In 2000, after the stock market's historic 10-year growth, the Lorenz curve for the U.S. income distribution was L(x) = x^2.4870. Find the Gini coefficient of income for both years, and determine in which year income was more equally distributed.

Reference no: EM131798839

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