In a Lorenz curve diagram, the diagonal line represents: MCQ with Answer and Explanation

Question

Share Report Error

In a Lorenz curve diagram, the diagonal line represents:

A. poverty line

B. perfect equality of income distribution

C. complete income inequality

D. economic growth

Answer: Option B

Solution (By JKSSB Mock Tests)

The diagonal line in the Lorenz curve diagram represents perfect income equality.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Revenue deficit is calculated as:

A. revenue expenditure minus revenue receipts

B. fiscal deficit minus primary deficit

C. total expenditure minus total receipts

D. revenue receipts minus revenue expenditure

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Revenue deficit is revenue expenditure minus revenue receipts.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of the digital economy, 'Zero Marginal Cost' of information goods implies that:

A. All goods have zero marginal cost

B. Only physical goods have zero marginal cost

C. Once produced, an additional digital copy can be distributed at near-zero cost

D. Marginal cost is always high

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Information goods and digital products typically have high fixed costs of production but near-zero marginal costs of reproduction and distribution, creating distinctive pricing and competition issues.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Agriculture Market' e-NAM was launched in which year?

A. 2017

B. 2016

C. 2014

D. 2018

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
e-NAM was launched in 2016.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs