  In this article, we discuss a dynamical stochastic model that represents the
time evolution of income distribution of a population, where the dynamics
develop from an interplay of multiple economic exchanges in the presence of
multiplicative noise. The model remit stretches beyond the conventional
framework of a Langevin-type kinetic equation in that our model dynamics is
self-consistently constrained by dynamical conservation laws emerging from
population and wealth conservation. This model is numerically solved and
analyzed to interpret the inequality of income as a function of relevant
dynamical parameters like the {\it mobility} $M$ and the {\it total income}
$\mu$. In our model, inequality is quantified by the {\it Gini index} $G$. In
particular, correlations between any two of the mobility index $M$ and/or the
total income $\mu$ with the Gini index $G$ are investigated and compared with
the analogous correlations resulting from an equivalent additive noise model.
Our findings highlight the importance of a multiplicative noise based economic
modeling structure in the analysis of inequality. The model also depicts the
nature of correlation between mobility and total income of a population from
the perspective of inequality measure.
