The Gini coefficient value of zero indicates: MCQ with Answer and Explanation

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The Gini coefficient value of zero indicates:

A. high poverty

B. perfect inequality

C. perfect equality of income distribution

D. no unemployment

Answer: Option C

Solution (By JKSSB Mock Tests)

A Gini coefficient of zero indicates perfect equality in income distribution.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'reverse charge mechanism' under GST is applicable when:

A. goods are imported only

B. the recipient is required to pay tax instead of the supplier

C. goods are exported

D. a registered supplier sells to an unregistered recipient

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Correct Answer: Option B

Explanation:
Under reverse charge, the recipient pays GST instead of the supplier.

This question belongs to: Economy GK Economy Set 1

Question #2

The expenditure on old age pension is classified as:

A. revenue expenditure

B. developmental expenditure

C. plan expenditure

D. capital expenditure

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Correct Answer: Option A

Explanation:
Old age pension is a recurring revenue expenditure that does not create assets.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Export Credit Guarantee Corporation of India' provides:

A. credit risk insurance to exporters

B. stock trading

C. banking services to public

D. crop insurance

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Correct Answer: Option A

Explanation:
ECGC provides credit risk insurance to exporters against payment defaults.

This question belongs to: Economy GK Economy Set 1

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