If Country X has a Gini coefficient of 0.7 and Country Y has a Gini coefficient of 0.4, which of the following is correct?a.Both countries have an equal income distribution.b.Country X has a higher degree of inequality.c.Country Y has a higher degree of inequality.d.None of the above.

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SOLVED: 2) A country with a GDP of $ 230 billion has a Gini Coefficient of 0.001 and a population of 340 million. What is the approximate amount of the income that each family now has?

CNA Explains: The Gini Coefficient and what it means in terms of income inequality