Economic Inequality and Poverty Measurements Quiz

The Gini coefficient is a widely used measure that quantifies the extent of income or wealth distribution within a population.

The Gini coefficient specifically measures the distribution of income or wealth within a given population.

The Human Development Index (HDI) is used to measure and compare levels of human development across different countries.

Climate change is not a direct factor contributing to economic inequality.

Extreme poverty is often defined as living on less than $1.90 per day, indicating severe economic deprivation.

North America is known for having one of the highest levels of income inequality among its regions.

The poverty line is a measure of relative poverty, indicating the income level below which people are considered poor in a specific society.

Brazil is a country with one of the highest Gini coefficients, indicating significant income inequality.

Absolute poverty is based on a fixed standard of living, while relative poverty depends on the societal context and varies accordingly.

Sweden is known for having a relatively low Gini coefficient, indicating a more equal distribution of income or wealth.

The poverty line represents the threshold below which individuals are considered poor based on their income level.

The Gini coefficient focuses on income or wealth distribution but does not take into account the actual distribution of wealth among individuals.

The Palma ratio is a measure used to assess income inequality within a population.

The poverty line is often used as a measure of absolute poverty, defining a specific income threshold below which individuals are considered absolutely poor.

Wealth encompasses the total value of assets owned, while income refers to the flow of money earned over a specific period.