Income tax If we can equate income, the Gini coefficient will be smaller. The relevant organizations of the United Nations stipulate that if the average income is below 0.2, the average income is highly averaging; 0.2 to 0.3 means a relatively average; 0.3 to 0.4 is relatively reasonable; 0.4...
What is the difference between the Lorenz curve and the Gini coefficient?Question:What is the difference between the Lorenz curve and the Gini coefficient?Income:The objective is to give investors a representation of the business's performance over time and the firm's value, which impac...
The Lorenz curve and the GINI coefficient are two concepts that are directly connected one to each other. Both are used in order to measure the level of income inequality in any country. Answer and Explanation:1 The Lorenz curve is a power...
Today, Simon Kuznets is best known for his theory about the relationship between income inequality and economic development. Kuznets posited that income inequality rises as a country first industrializes, then falls in the later stages of development. This idea is popularly depicted as a curve, al...