2021 · Q69
Match List I with List II and select the correct answer using the code given below the lists: Lest I List II (Curve) (Indication) A. Lorenz curve
- 1Inflation and employment B. Phillips curve
- 2Tax rates and tax revenue C. Engen curve
- 3Inequality in distribution of income or wealth D. Laffer curver
- 4Income and proportion of expenditure on food Code: A B C D
General KnowledgeIndian Economy
- A3 4 1 2
- B2 1 4 3
- C3 1 4 2
- D2 4 1 3
Explanation
The Lorenz curve depicts inequality in the distribution of income or wealth (A-3); the Phillips curve shows the inverse relationship between inflation and unemployment (B-1); the Engel curve describes how household expenditure on food varies with income (C-4); and the Laffer curve relates tax rates to tax revenue (D-2). The correct match is therefore 3, 1, 4, 2.