WBCS.LIVE practice question

The 'Gini Coefficient' is a standard measure used to determine which of the following?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Rate of Inflation
  2. Income Inequality
  3. Level of Unemployment
  4. Industrial Growth

Correct answer and explanation

Correct answer: Income Inequality

Explanation: āœ… Correct Answer: B) Income Inequality šŸ“š Explanation: The Gini Coefficient measures the degree of inequality in the distribution of income or wealth within a population. Its value ranges from 0 to 1, where 0 represents perfect equality and 1 represents perfect inequality. It is often visually represented through the Lorenz Curve.