10. How do we measure inequality?

Gini Index

Explanation: It is the most widely cited measure of inequality; it measures the extent to which the distribution within an economy deviates from a perfectly equal distribution. The index is computed as the ratio of the area between the two curves (Lorenz curve and 45-degree line) to the area beneath the 45-degree line.

Gini Index

Explanation:

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using the scientific method.