Economics - Income Inequality
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This is the MCQs of Economics
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Question 1 of 55
1. Question
Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution
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Question 2 of 55
2. Question
Permanent income is
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Question 3 of 55
3. Question
A period of unemployment due to recession will:
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Question 4 of 55
4. Question
Because people’s income vary other the life cycle and because there are transitory shocks to people’s incomes the standard measures of income distribution
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Question 5 of 55
5. Question
If people can borrow and lend to perfectly smooth out their lifetime living standards then
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Question 6 of 55
6. Question
Mariam earns more than Seamus and she came by her income fairly and honestly which of the following political philosophies would argue against the redistribution of income from Mariam to Seamus?
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Question 7 of 55
7. Question
The maximin criterion suggested by Rawls’s theory of justice means that the government should aim to:
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Question 8 of 55
8. Question
Rank utilitarianism liberalism, and libertarianism in sequence from the political philosophy that would redistribute income the greatest to the one that would redistribute income the least.
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Question 9 of 55
9. Question
Utilitarianism suggests that the government should choose policies that maximize the total utility of everyone in society by
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Question 10 of 55
10. Question
Rawls’s suggestion that policy should be directed at maximizing the welfare of the least well off person in society is derived from
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Question 11 of 55
11. Question
Rawls’s miximin criterion does not mean that there should be redistribution so as to equalise everyone’s incomes in society because
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Question 12 of 55
12. Question
An increase in the minimum wage will cause a relatively large increase in unemployment among
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Question 13 of 55
13. Question
Current anti-poverty programs discourage work because
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Question 14 of 55
14. Question
The greatest advantage of a negative income tax is that it
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Question 15 of 55
15. Question
The poverty trap refers to
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Question 16 of 55
16. Question
Constrained choice is relevant for households:
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Question 17 of 55
17. Question
The idea that the demand for car workers stems from the demand for cars is:
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Question 18 of 55
18. Question
Assuming leisure is a normal good, if the income effect is greater than the substitution effect a wage increase:
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Question 19 of 55
19. Question
The substitution effect of higher wages suggests that as the wage rate increases:
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Question 20 of 55
20. Question
Assuming that leisure is a normal good. if an individual’s labour supply curve is backward bending then the:
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Question 21 of 55
21. Question
If the income effect is smaller than the substitution effect, higher net wages will:
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Question 22 of 55
22. Question
As the wage rate per hour increases, the opportunity cost of leisure
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Question 23 of 55
23. Question
Differences in wages that result from differences in working conditions are known as:
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Question 24 of 55
24. Question
New technology in the form of computer spreadsheets has increased the productivity of accountants. This will cause
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Question 25 of 55
25. Question
The marginal product of variable input is best described as:
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Question 26 of 55
26. Question
In a competitive labour market firms will hire labour up to the point where the marginal revenue product of labour equals:
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Question 27 of 55
27. Question
The marginal revenue product of labour is:
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Question 28 of 55
28. Question
The formula for the marginal revenue product of labour (L is for labour, X is the product) is:
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Question 29 of 55
29. Question
If output price is constant, the marginal revenue product of labour curve will have the same shape as the:
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Question 30 of 55
30. Question
An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is
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Question 31 of 55
31. Question
Unemployment benefits may increase the unemployment rate because unemployment benefits.
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Question 32 of 55
32. Question
If labour market discrimination crowds women into a limited number of occupations so that the number of occupations available to men increases, then:
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Question 33 of 55
33. Question
The stock of knowledge, skills and talents that people possess is called:
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Question 34 of 55
34. Question
The term ‘rent’ as it is used by economists. refers to
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Question 35 of 55
35. Question
Supply of land in a given use:
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Question 36 of 55
36. Question
If income were distributed equally the lorenz curve would be:
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Question 37 of 55
37. Question
The Gini coefficient is:
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Question 38 of 55
38. Question
A Gini coefficient of zero means that the:
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Question 39 of 55
39. Question
A Gini coefficient of one means that:
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Question 40 of 55
40. Question
The measure or value upon which a tax is levied is the:
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Question 41 of 55
41. Question
Horizontal equity holds that:
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Question 42 of 55
42. Question
Vertical equity holds that
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Question 43 of 55
43. Question
The total amount of tax you pay divided by your total income is the:
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Question 44 of 55
44. Question
The marginal tax rate is:
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Question 45 of 55
45. Question
A tax whose burden is the same proportion of income for all households is:
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Question 46 of 55
46. Question
A progressive income tax means that those with a higher income pay
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Question 47 of 55
47. Question
A tax whose burden expressed as a percentage of income, falls as income increases is a:
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Question 48 of 55
48. Question
Tax incidence is the:
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Question 49 of 55
49. Question
Tax shifting:
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Question 50 of 55
50. Question
Where a tax can be shifted the incidence depends on:
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Question 51 of 55
51. Question
An example of an indirect tax is:
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Question 52 of 55
52. Question
VAT is a good example of which kind of tax?
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Question 53 of 55
53. Question
Housing Benefit is a good example of:
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Question 54 of 55
54. Question
The Benazir Benefit income Scheme is a good example of:
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Question 55 of 55
55. Question
In Pakistan the term the poverty trap is used to describe the fact that:
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