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The parity of zero is relevant to odd–even rationing, in which cars may drive or purchase gasoline on alternate days, according to the parity of the last digit in their license plates. Half of the numbers in a given range end in 0, 2, 4, 6, 8 and the other half in 1, 3, 5, 7, 9, so it makes sense to include 0 with the other even numbers.
Zero represents perfect equality (everyone having the same income), while 1 represents perfect inequality (one person receiving all the income). (Index scores are commonly multiplied by 100.) [ 13 ] The CBO explains the Gini as "A standard composite measure of income inequality is the Gini coefficient, which summarizes an entire distribution in ...
See the section "Higher mathematics" below for some extensions of the notion of parity to a larger class of "numbers" or in other more general settings. Even and odd numbers have opposite parities, e.g., 22 (even number) and 13 (odd number) have opposite parities. In particular, the parity of zero is even. [2]
Gini coefficients are simple, and this simplicity can lead to oversights and can confuse the comparison of different populations; for example, while both Bangladesh (per capita income of $1,693) and the Netherlands (per capita income of $42,183) had an income Gini coefficient of 0.31 in 2010, [72] the quality of life, economic opportunity and ...
Derivation of the Lorenz curve and Gini coefficient for global income in 2011. Data from 2005. Points on the Lorenz curve represent statements such as, "the bottom 20% of all households have 10% of the total income." A perfectly equal income distribution would be one in which every person has the same income.
It follows that the market value of total excess demand in the economy must be zero, which is the statement of Walras's law. Walras's law implies that if there are n markets and n – 1 of these are in equilibrium, then the last market must also be in equilibrium, a property which is essential in the proof of the existence of equilibrium.
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In the discrete case, an economic inequality index may be represented by a function I(x), where x is a set of n economic values (e.g. wealth or income) x={x 1,x 2,...,x n} with x i being the economic value associated with "economic agent" i.