Economics · Gini Coefficient
Consider the following statements regarding the measurement of inequality: Statement 1: The Gini Coefficient is derived by dividing the area between the 45° line and the Lorenz Curve by the total area under the 45° line. Statement 2: A Gini Coefficient value of 1 signifies perfect equality, where every person in the population receives an equal share of the income. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement 1 is true, but Statement 2 is false.✓
- 2Statement 1 is false, but Statement 2 is true.
- 3Both statements are false.
- 4Both statements are true.
Correct answer
Statement 1 is true, but Statement 2 is false.
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