Question : Lorenz curve shows:
Option 1: Inflation
Option 2: Unemployment
Option 3: Income distribution
Option 4: Poverty
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Correct Answer: Income distribution
Solution : The correct answer is Income distribution.
Percentiles of the population are plotted on Lorenz curves along with the total wealth or income of those who fall within that percentile, or above it. The Lorenz curve illustrates how unequally people are paid in a given economy or population. The Lorenz curve's derived Gini coefficient is the most commonly used indicator of income inequality in a society.
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Question : Which of the following is represented by "The Lorenz Curve"?
Option 1: Employment
Option 2: Inflation
Option 3: Deflation
Option 4: Income Distribution
Question : Which curve shows the inverse relationship between unemployment and inflation rates?
Option 1: Supply curve
Option 2: Indifference curve
Option 3: IS curve
Option 4: Phillips curve
Question : Stagflation refers to a situation which is characterised by
Option 1: Stagnant employment and deflation
Option 2: deflation and rising unemployment
Option 3: inflation and rising employment
Option 4: inflation and rising unemployment
Question : Which of the following curve describes the variation of household expenditure on a particular good with respect to household income?
Option 1: Demand curve
Option 2: Engel curve
Option 3: Great Gatsby curve
Option 4: Cost curve
Question : The study of factor pricing is alternatively called the theory of
Option 1: Functional distribution .
Option 2: Personal distribution.
Option 3: Income distribution.
Option 4: Wealth distribution .
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