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

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The 'Kuznets curve' hypothesizes that income inequality:

A. falls continuously with growth

B. rises continuously with growth

C. first rises then falls with economic development

D. is unrelated to growth

Answer: Option C

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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Question #1

The 'Spices Board of India' is headquartered in:

A. Mumbai

B. Kochi

C. Delhi

D. Chennai

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Correct Answer: Option B

Explanation:
The Spices Board of India is headquartered in Kochi.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Current Account Deficit' indicates:

A. Excess of imports of goods and services over exports

B. Excess of government expenditure over revenue

C. Surplus in the overall balance of payments

D. Excess of capital inflows over outflows

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Correct Answer: Option A

Explanation:
Current Account Deficit occurs when the value of imports of goods, services and transfers exceeds the value of exports of goods, services and transfers.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'credit card' allows a customer to:

A. trade securities

B. spend from bank account only

C. deposit cash only

D. borrow money up to a limit for purchases

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Correct Answer: Option D

Explanation:
A credit card allows borrowing up to a limit for purchases.

This question belongs to: Economy GK Economy Set 1

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