Economics MCQs

Page No. 318

A value of 1 in Gini index represents ?


a low inequality


b maximum inequality


c10/10 000% inequality


d1% inequality


View Answer maximum inequality

Indices of income distribution measure ?


aabsolute poverty


beconomic growth


crelative poverty


dstandard of living


View Answer relative poverty

_________ is below the income that secures the bare essentials of food clothing and shelter ?


aIncome inequality


bAbsolute poverty


csen’s poverty index


dpurchasing power poverty


View Answer Absolute poverty

The Human Development Report 2003, which assumes that poverty is multidimensional calculates a human poverty index based on which of the following measures of deprivation ?


a probability at birth of not surviving to age 40


badult illiteracy rate


c lack of a decent standard of living


dA , B and C


View Answer A , B and C

Which of the following statements about the burden of a tax is correct ?


aThe tax burden generated from a tax placed on a good consumer perceive to be a necessity will fall most heavily on the sellers of the good


bThe burden of a tax falls on the side of the market (buyers or sellers) from which it is collected


cThe distribution of the burden of a tax is determined by the relative elasticities of determined by legislation.


dThe tax burden falls most heavily on the side of the market (buyers and sellers) that is most willing to leave the market when price movements are unfavorable to them.



A tax placed on a good that is a necessity for consumers will likely generate a tax burden that ?


afalls more heavily on sellers


bfalls entirely on sellers


cfalls more heavily on buyers.


dis evenly distributed between buyers and sellers.



When a tax is collected from the buyers in a market, ?


athe tax burden falls most heavily on the buyers.


bthe buyers bear the burden of the tax


cthe sellers bear the burden of the tax


dthe tax burden on the buyers and sellers in the same as an equivalent tax collected from the sellers



Within the supply and demand model, a tax collected from the sellers of a good shift the ?


ademand curve downward by the size of the tax per unit.


bsupply curve downward by the size of the tax per unit


cdemand curve upward by the size of the tax per unit.


dsupply curve upward by the size of the tax per unit



Which of the following workers would be most likely to find it more difficult to get a job after a rise in the minimum wage rate?


a a teenage worker with few qualifications.


b A manual worker with fifteen years of work experience


cA professional worker with university degree.


dAll there are equally likely to find it difficult to get a job



Which of the following is an example of price floor ?


athe minimum wage


brent controls


crestricting petrol prices to Rs100 per litre when the equilibrium price is Rs150 per litre


d All of these answers are price floors


View Answer the minimum wage

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