Asked by
Tiffany Turnvall
on Nov 05, 2024
Verified
The Gini coefficient is
A) the most common way of representing the income distribution graphically.
B) a commonly used measure of the degree of inequality in an income distribution.
C) a commonly used measure of the degree of inequity in a property distribution.
D) the ratio of the percentage of total income received by the top 20% of families to the percentage of total income received by the bottom 20% of families.
Income Distribution
How a nation’s total GDP is distributed amongst its population, a key factor in understanding economic inequality and wealth distribution within a society.
Inequality
Refers to the uneven distribution of resources or opportunities within a society, often manifesting in disparities in income, wealth, health, and access to services.
- Understand the concept and measurement of income inequality.
- Grasp the significance of the Gini coefficient in quantifying income inequality.
Verified Answer
AS
Learning Objectives
- Understand the concept and measurement of income inequality.
- Grasp the significance of the Gini coefficient in quantifying income inequality.