ECO501 Midterm MCQs 2024 by Miss Mehwish

Past Papers for Mids./Finals are also Available · ECO501 (Mega File) · Mid Term (Live Quiz) · A 20% proportion of any numerical quantity is called:

Quartile Percentile ✓ Decile

Q2. Which of the following is the sum of the difference between the poverty line and actual income levels of all people living below that line?

Headcount index

Human development index

3. Average poverty gap can be measured as:

Total poverty gap / number of persons in the economy ✓ Total poverty gap - number of persons in the economy Total poverty gap + number of persons in the economy Total poverty gap x number of persons in the economy

4. According to World Bank, countries having per capita Gross National Incomes between $996 and $3,945 are classified as: High income countries Lower income countries Upper middle income countries Lower middle income countries ✓

Q5. Which of the following is (are) the characteristic(s) of developing countries?

Lower levels of human capital

Higher population growth rates Underdeveloped markets

6. A person who is involved in hunger, thirst, lack of education, lack of money, no home to live, and no respect is considered to be a: Rich person Happy person Poor person ✓ Unemployed person
7. In terms of standard of living, identify the indicator(s) used in multidimensional poverty index: Inadequate flooring

Unimproved cooking fuel Lack of telephone, motorbike, TV etc

Q8. Poverty can be measured by which of the following methods?

Head count index

9. Tax levied on goods ultimately purchased by consumers is known as:

Indirect tax ✓ Property tax Direct tax Wealth tax

10. Average income shortfall can be measured as:

Total poverty gap / number of poor persons ✓ Total poverty gap - number of poor persons Total poverty gap + number of poor persons Total poverty gap * number of poor persons