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

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In a Lorenz curve diagram, the diagonal line represents:

A. poverty line

B. complete income inequality

C. perfect equality of income distribution

D. economic growth

Answer: Option C

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

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Practice More Economy Set 1 Questions

Question #1

The 'Nifty 50' index comprises how many stocks of NSE?

A. 30

B. 50

C. 100

D. 200

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Correct Answer: Option B

Explanation:
Nifty 50 comprises 50 stocks of NSE.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'liberalization' in 1991 reduced the number of industries reserved for the public sector to how many initially?

A. 25

B. 18

C. 6

D. 8

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Correct Answer: Option D

Explanation:
The 1991 policy reduced the reserved industries for public sector to 8, later further reduced.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following was a central objective of the Mahalanobis strategy in the Second Plan?

A. land reforms

B. investment in heavy and capital goods industries

C. promotion of cottage industries

D. export promotion

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Correct Answer: Option B

Explanation:
The Mahalanobis strategy emphasized investment in heavy and capital goods industries.

This question belongs to: Economy GK Economy Set 1

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