The numeric measure of income inequality based on a scale of 0 to 1 and used for comparison across countries is known as:

Question

Quizplus · Accepted Answer

The Gini coefficient is a widely used measure of income inequality that ranges from 0, indicating perfect income equality, to 1, indicating perfect income inequality. It is used for comparison across countries and is the most commonly used measure of income inequality globally.

The Numeric Measure of Income Inequality Based on a Scale