The Gini Coefficient, Lorenz Curve, and Kuznets Curve are all widely used measures of economic inequality.

The Gini Coefficient is specifically designed to measure the extent of economic inequality within a population.

The Lorenz Curve can be used to illustrate the distribution of income, wealth, or consumption across a population.

The Kuznets Curve depicts the hypothesized relationship between income inequality and economic growth over time.

The Palma Ratio is calculated by dividing the income share of the top 10% of earners by the income share of the bottom 40% of earners.

The Gini Coefficient is affected by outliers, as extreme values can significantly influence the measure.

The Lorenz Curve serves multiple purposes, including graphically depicting the cumulative distribution of income or wealth, measuring the degree of economic inequality, and analyzing the relationship between income inequality and economic growth.

The Kuznets Curve posits that income inequality initially rises as an economy develops, but eventually declines as the economy matures.

The Palma Ratio can be used for various purposes, including identifying countries with high income inequality, comparing income inequality across countries, and analyzing the relationship between income inequality and economic growth.

While natural disasters can have economic consequences, they are not typically considered a direct cause of economic inequality.

The Gini Coefficient has several potential drawbacks, including its sensitivity to changes in the middle of the income distribution, its neglect of wealth distribution, and its difficulty in interpretation.

The Lorenz Curve serves multiple purposes, including graphically depicting the cumulative distribution of income or wealth, measuring the degree of economic inequality, and analyzing the relationship between income inequality and economic growth.

The Kuznets Curve posits that income inequality initially rises as an economy develops, but eventually declines as the economy matures.

The Palma Ratio can be used for various purposes, including identifying countries with high income inequality, comparing income inequality across countries, and analyzing the relationship between income inequality and economic growth.