Asked by
Benjamin Morgan
on Nov 05, 2024
Verified
A Gini coefficient of 0.25 represents less inequality in income distribution than a Gini coefficient of 0.4.
Gini Coefficient
A gauge for comparing income distribution within a group, starting at 0 for utter equity and peaking at 1 for maximal inequity.
Inequality
Refers to the uneven distribution of resources or opportunities among different groups or individuals within a society.
- Recognize the value of the Gini coefficient in assessing income inequality.
Verified Answer
RY
Learning Objectives
- Recognize the value of the Gini coefficient in assessing income inequality.