The 'Kuznets curve' hypothesizes that income inequality: MCQ with Answer and Explanation

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The 'Kuznets curve' hypothesizes that income inequality:

A. is unrelated to growth

B. falls continuously with growth

C. rises continuously with growth

D. first rises then falls with economic development

Answer: Option D

Solution (By JKSSB Mock Tests)

The Kuznets curve suggests inequality first increases and later decreases as an economy develops.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is NOT a feature of imperfect competition?

A. Few or many sellers with some control over price

B. Product differentiation

C. Perfect knowledge

D. Selling costs

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Correct Answer: Option C

Explanation:
Perfect knowledge is a feature of perfect competition. Imperfect competition is characterised by product differentiation, selling costs and some degree of price control by sellers.

This question belongs to: Economy GK Economy Set 1

Question #2

The Finance Commission is constituted under which Article of the Constitution?

A. 360

B. 356

C. 280

D. 324

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Correct Answer: Option C

Explanation:
The Finance Commission is constituted under Article 280 of the Constitution.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on air travel business class is:

A. 5%

B. 28%

C. 12%

D. 18%

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Correct Answer: Option C

Explanation:
Business class air travel is 12% GST.

This question belongs to: Economy GK Economy Set 1

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