Economics · Economic Inequality
How is the Gini coefficient mathematically calculated or defined using the Lorenz curve graph?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It is the total area between the Lorenz curve and the line of perfect equality.
- 2It is the ratio of the area between the line of perfect equality and the Lorenz curve to the total area under the line of perfect equality.✓
- 3It is the ratio of the area between the line of perfect equality and the Lorenz curve to the total area under the Lorenz curve.
- 4It is the ratio of the area under the Lorenz curve to the total area of the entire graph.
Correct answer
It is the ratio of the area between the line of perfect equality and the Lorenz curve to the total area under the line of perfect equality.
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