The Gini coefficient:

A) varies between 0 and 1.
B) is also equal to the mean household income for a country.
C) is the same for most industrially developed countries.
D) is seldom used since it does not help one understand income inequality.

Gini Coefficient

A measure of income inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality).

Mean Household Income

The average income earned by households in a specific geographical area, calculated by summing all incomes and dividing by the number of households.

Industrially Developed

Referring to countries or regions that have advanced economic bases, primarily in manufacturing and services, and high levels of income per capita.