Economics MCQs

Page No. 318

A value of 1 in Gini index represents ?


a low inequality

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b maximum inequality

✓


c10/10 000% inequality

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d1% inequality

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View Answer maximum inequality

Indices of income distribution measure ?


aabsolute poverty

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beconomic growth

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crelative poverty

✓


dstandard of living

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View Answer relative poverty

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


aIncome inequality

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bAbsolute poverty

✓


csen’s poverty index

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dpurchasing power poverty

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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

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badult illiteracy rate

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c lack of a decent standard of living

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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

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

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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.

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View Answer The distribution of the burden of a tax is determined by the relative elasticities of determined by legislation.

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


afalls more heavily on sellers

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bfalls entirely on sellers

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cfalls more heavily on buyers.

✓


dis evenly distributed between buyers and sellers.

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View Answer falls more heavily on buyers.

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


athe tax burden falls most heavily on the buyers.

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bthe buyers bear the burden of the tax

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cthe sellers bear the burden of the tax

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

✓


View Answer the 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.

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bsupply curve downward by the size of the tax per unit

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

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dsupply curve upward by the size of the tax per unit

✓


View Answer supply 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

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cA professional worker with university degree.

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

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View Answer a teenage worker with few qualifications.

Which of the following is an example of price floor ?


athe minimum wage

✓


brent controls

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

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d All of these answers are price floors

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View Answer the minimum wage

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