Which of the following is a measure of economic inequality?
A. Only GDP growth rate
B. Only unemployment rate
C. Gini coefficient, Lorenz curve and Theil index
D. Human Development Index as a pure inequality measure
Answer: Option C
Solution (By JKSSB Mock Tests)
The Gini coefficient, Lorenz curve and Theil index are standard measures used to quantify the degree of inequality in the distribution of income or wealth.
Explanation:
The Big Push argument, associated with Rosenstein-Rodan, stresses that simultaneous large investments in many sectors may be necessary to make industrialisation profitable when demand complementarities and infrastructure indivisibilities exist.
Explanation:
Producer surplus is the difference between the amount a producer is willing to accept for a good and the amount actually received (market price).
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