Test Your Knowledge of Personal Income Distribution with This Quiz
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Questions and Answers

What is the personal or size distribution of income?

  • The share of total income accruing to specific percentages of a population
  • The measure most commonly used by economists (correct)
  • The total amount of income received by a population
  • The way in which income is earned by individuals

    • What is the difference between quintiles and deciles in terms of income distribution?

  • Quintiles divide the population into ten equal numerical groups while deciles divide the population into five groups of equal size
  • Quintiles and deciles are the same thing
  • Quintiles and deciles are not mentioned in the text
  • Quintiles divide the population into five groups of equal size while deciles divide the population into ten equal numerical groups (correct)

    • What is considered in personal or size distribution of income?

  • The education level of the individuals
  • The sources of income such as employment, interest, profits, rents, gifts, or inheritance (correct)
  • The way in which individuals spend their income
  • The locational and occupational sources of income

    • Which Nobel laureate is associated with the Kuznets ratio?

    <p>Simon Kuznets</p> Signup and view all the answers

    What is a Lorenz curve?

    <p>A graphical representation of income distribution</p> Signup and view all the answers

    What is the ratio of incomes received by the top 20% and bottom 40% of the population in the given example?

    <p>3.64</p> Signup and view all the answers

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