Question

Methods used to measure inequality of wealth

Answer 1

Explanation:

Economists use various metrics for measuring income inequality. Here, the most commonly used measures—the Lorenz curve, the Gini coefficient, decile ratios, the Palma ratio, and the Theil index—are discussed in relation to their benefits and limitations.

Answer 2

Answer:

An inequality measure is often a function that ascribes a value to a specific distribution of income in a way that allows direct and objective comparisons across different distributions. To do this, inequality measures should have certain properties and behave in a certain way given certain events