The Gini coefficient for North American countries is between 0.3 and 0.4, and for Latin American countries it is between 0.4 and 0.5. What does this tell us about income inequality in these regions?

Question

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The Gini coefficient is a measure of income inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality). A higher Gini coefficient indicates greater inequality. Since Latin American countries have a higher Gini coefficient range (0.4 to 0.5) compared to North American countries (0.3 to 0.4), it indicates that income inequality is greater in Latin America than in North America.

The Gini Coefficient for North American Countries Is Between 0