Which of the following is a measure of economic inequality?
A. Only unemployment rate
B. Only GDP growth rate
C. Human Development Index as a pure inequality measure
D. Gini coefficient, Lorenz curve and Theil index
Answer: Option D
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:
Ricardo assumed a single factor (labour), constant returns, and international immobility of labour, while labour is mobile within a country.
Explanation:
India has achieved current account convertibility but maintains a managed and partial capital account convertibility with prudential controls on certain flows.
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