The Gini Coefficient Refers to the

question 23

Multiple Choice

The Gini Coefficient refers to the

• A) percentage breakdown of those living below and above the poverty line.
• B) income ratio of the top and bottom fractions of society.
• C) relative rise in income for certain segments of society.
• D) absolute rise of a country's income.

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Definitions:

Marginal Decision Rule

A principle used in economics and decision-making that recommends comparing the additional benefits of a decision or action to its additional costs.

Downward Sloping

Characteristic of a graph indicating that as one variable increases, the other variable decreases, common in demand curves.

Demand

The quantity of a particular good or service that consumers are willing and able to purchase at various prices.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers at those prices.