Economic Welfare and Inequality Quiz
Explore key concepts of economic inequality & welfare through this quiz. Learn about Gini coefficient, HDI, policies, and more.
#1
Which of the following is a measure of economic inequality?
Gini coefficient
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Inflation rate
#2
What does the Gini coefficient measure?
Income inequality
Gross domestic product
Unemployment rate
National debt
#3
What is the Lorenz curve used to represent in economics?
Income distribution
Unemployment trends
GDP growth
Interest rates
#4
In economics, what is the Gini index used to quantify?
Income inequality
GDP growth
Interest rates
Unemployment rate
#5
Which of the following is a consequence of income inequality?
Decreased social cohesion
Increased government revenue
Lower inflation rates
Higher economic growth
#6
What is the Kuznets curve often used to analyze?
Relationship between income inequality and economic growth
Relationship between inflation and unemployment
Relationship between interest rates and investment
Relationship between government spending and GDP
#7
What is the relationship between economic growth and income inequality according to the Kuznets hypothesis?
Initially, income inequality increases, then decreases
Income inequality remains constant over time
Income inequality decreases continuously
Income inequality increases continuously
#8
What is meant by the term 'structural inequality'?
Inequality that results from individual choices and actions
Inequality that arises from systemic biases and social structures
Inequality that is temporary and can be easily rectified
Inequality that is not influenced by social or economic factors
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