Which of the following is a tool to measure income inequality? MCQ with Answer and Explanation

Question
Which of the following is a tool to measure income inequality?
A. Laffer Curve
B. Phillips Curve
C. Engel Curve
D. Lorenz Curve
Answer: Option D
Solution (By JKSSB Mock Tests)
The Lorenz Curve plots the cumulative percentage of income against the cumulative percentage of population and is used to measure income inequality (along with the Gini coefficient).
This question belongs to: Economy GK Economy Set 1
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1
The 'shadow economy' refers to:
A. unreported economic activities outside the formal sector
B. stock market
C. formal sector activities
D. banking sector
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
The shadow economy consists of unreported economic activities.
This question belongs to: Economy GK Economy Set 1
Question #2
The concept of consumer surplus was developed by:
A. David Ricardo
B. J.M. Keynes
C. Alfred Marshall
D. Adam Smith
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Alfred Marshall developed the concept of consumer surplus.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Rs 2000 note' in India was introduced after demonetization in:
A. 2018
B. 2016
C. 2014
D. 2020
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Rs 2000 note was introduced in November 2016 after demonetization.
This question belongs to: Economy GK Economy Set 1
Explore All Economy Set 1 MCQs
Today's Top Topics
Economy Set 1 2220
Explore Subjects
Accountancy and Statistics 3179 English 15164 Computer 5279 Geography GK 6121 Reasoning 2064
Practice Mix
Which of the following is the primary reason for the high rainfall in the Eastern Ghats?
In Access, which of the following is a valid way to import data from an Excel spreadsheet?
Find the error: 'She has a beautiful hair.'
The shortcut to open the 'Find' dialog in MS Excel is:
The noun 'news' is singular, so we say: