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Explain what you understand by the Lorenz Curve and Gini Coefficient.

The Gini Coefficient measures the area between the Lorenz curve and the line of absoluate equality in an economy. The bigger the Gini Coefficient, the greater the inequality in a single country.

 

Fiscal policy can help redistribute income and reduce inequality through taxation of high earners and welfare to those on lower incomes.

Tom H. A Level Economics tutor, A Level Maths tutor, A Level Spanish ...

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Explain what you understand by the Lorenz Curve and Gini Coefficient.

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