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 inequality

B. perfect equality

C. high growth

D. low inflation

Answer: Option A

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

Which of the following indices is used to measure income inequality?

A. Gini Coefficient

B. Physical Quality of Life Index

C. Human Development Index

D. Gender Development Index

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Correct Answer: Option A

Explanation:
The Gini Coefficient measures the extent of income or wealth inequality in a population. A value of 0 represents perfect equality and 1 represents perfect inequality.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'literacy rate' in the Indian census is defined for persons aged:

A. 0-6 years

B. 18-60 years

C. 7 years and above

D. 15-35 years

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Correct Answer: Option C

Explanation:
The literacy rate is calculated for the population aged 7 years and above.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Sustainable Development Goals' were adopted by the United Nations in which year?

A. 2016

B. 2000

C. 2015

D. 2020

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Correct Answer: Option C

Explanation:
The Sustainable Development Goals were adopted in 2015.

This question belongs to: Economy GK Economy Set 1

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