What Does a Gini Index Number of 0

question 73

Multiple Choice

What does a Gini index number of 0.1 suggest?

• A) Individuals in the nation have 100 percent inequality.
• B) Individuals in the nation have a startlingly high level of inequality.
• C) Individuals in the nation have an incredibly low level of inequality.
• D) Individuals in the nation have no inequality whatsoever.

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Definitions:

Consumer Surplus

The contrast between what consumers intend to spend on a good or service and the actual amount they part with.

Producer Surplus

The difference between how much producers are willing to accept for a good versus how much they actually receive.

Price Support

Price set by government above free-market level and maintained by governmental purchases of excess supply.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual higher market price they receive.