A Gini coefficient value close to one indicates: MCQ with Answer and Explanation

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A Gini coefficient value close to one indicates:

A. perfect equality

B. high growth

C. perfect inequality

D. low inflation

Answer: Option C

Solution (By JKSSB Mock Tests)

A Gini coefficient close to one indicates perfect inequality.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'tragedy of the commons' refers to:

A. overuse of common property resources

B. market success

C. government failure

D. underuse of private property

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Correct Answer: Option A

Explanation:
The tragedy of the commons is the overuse and depletion of common property resources.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'Modern Monetary Theory' (MMT) perspective?

A. Monetary financing is always inflationary regardless of capacity utilisation

B. A sovereign currency issuer faces no purely financial constraint on its spending and the main limit is inflation

C. Only balanced budgets are sustainable

D. Governments are always financially constrained like households

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Correct Answer: Option B

Explanation:
Modern Monetary Theory argues that a government that issues its own fiat currency cannot be forced into involuntary default and that the relevant constraint on spending is the availability of real resources and the risk of inflation.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on digital advertising is:

A. 18%

B. 28%

C. 5%

D. 12%

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Correct Answer: Option A

Explanation:
Digital advertising services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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