Asked by
Avery Fowler
on Nov 05, 2024
Verified
A perfectly equal distribution of income would result in a Gini coefficient of 1.
Gini Coefficient
A measure of income distribution or inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality).
Equal Distribution
A concept referring to a scenario where resources, wealth, or opportunities are shared evenly among all participants or members of a society.
- Comprehend the role of the Gini coefficient in evaluating income inequality.
Verified Answer
DP
Learning Objectives
- Comprehend the role of the Gini coefficient in evaluating income inequality.