{"id":86226,"date":"2025-06-01T03:40:47","date_gmt":"2025-06-01T03:40:47","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=86226"},"modified":"2025-06-01T03:40:47","modified_gmt":"2025-06-01T03:40:47","slug":"match-list-i-with-list-ii-and-select-the-correct-answer-using-the-code-46","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/match-list-i-with-list-ii-and-select-the-correct-answer-using-the-code-46\/","title":{"rendered":"Match List I with List II and select the correct answer using the code"},"content":{"rendered":"

Match List I with List II and select the correct answer using the code given below the lists :<\/p>\n\n\n\n\n\n\n\n\n
List I
(Curve)<\/th>\n		List II
(Indication)<\/th>\n<\/tr>\n<\/thead>\n
A. Lorenz curve<\/td>\n1. Inflation and employment<\/td>\n<\/tr>\n
B. Phillips curve<\/td>\n2. Tax rates and tax revenue<\/td>\n<\/tr>\n
C. Engel curve<\/td>\n3. Inequality in distribution of income or wealth<\/td>\n<\/tr>\n
D. Laffer curve<\/td>\n4. Income and proportion of expenditure on food<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Code :
\nA) 3 4 1 2
\nB) 2 1 4 3
\nC) 3 1 4 2
\nD) 2 4 1 3<\/p>\n

[amp_mcq option1=”3 4 1 2″ option2=”2 1 4 3″ option3=”3 1 4 2″ option4=”2 4 1 3″ correct=”option3″]<\/p>\n

\n
\n
This question was previously asked in<\/div>\n
UPSC CDS-2 – 2021<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nMatching the curves with their indications:
\nA. Lorenz curve is used to represent inequality in the distribution of income or wealth. (3)
\nB. Phillips curve shows the inverse relationship between the rate of inflation and the rate of unemployment in an economy. (1)
\nC. Engel curve describes how household expenditure on a particular good or service varies with household income. For necessary goods like food, the proportion of expenditure decreases as income rises. (4)
\nD. Laffer curve is a theoretical representation of the relationship between tax rates and the amount of tax revenue collected by governments. (2)
\nThus, the correct matching is A-3, B-1, C-4, D-2.
\n<\/section>\n
\n– Lorenz curve: Further visually represented by the Gini coefficient.
\n– Phillips curve: Represents a short-run trade-off, which may not hold in the long run.
\n– Engel curve: Derived from Engel’s Law regarding food expenditure proportion.
\n– Laffer curve: Suggests that beyond a certain point, increasing tax rates may decrease tax revenue due to reduced economic activity.
\n<\/section>\n
\n– The Lorenz curve was developed by Max O. Lorenz in 1905.
\n– The Phillips curve was described by A. W. Phillips based on observations in the UK economy.
\n– Engel’s Law was formulated by Ernst Engel in the 19th century.
\n– The Laffer curve was popularized by economist Arthur Laffer in the 1970s.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Match List I with List II and select the correct answer using the code given below the lists : List I(Curve) List II(Indication) A. Lorenz curve 1. Inflation and employment B. Phillips curve 2. Tax rates and tax revenue C. Engel curve 3. Inequality in distribution of income or wealth D. Laffer curve 4. Income … <\/p>\n

Detailed SolutionMatch List I with List II and select the correct answer using the code<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1088],"tags":[1110,1120,1261],"class_list":["post-86226","post","type-post","status-publish","format-standard","hentry","category-upsc-cds-2","tag-1110","tag-economic-development","tag-nature-of-indian-economy","no-featured-image-padding"],"yoast_head":"\nMatch List I with List II and select the correct answer using the code<\/title>\n<meta name=\"description\" content=\"Matching the curves with their indications: A. Lorenz curve is used to represent inequality in the distribution of income or wealth. (3) B. Phillips curve shows the inverse relationship between the rate of inflation and the rate of unemployment in an economy. (1) C. Engel curve describes how household expenditure on a particular good or service varies with household income. For necessary goods like food, the proportion of expenditure decreases as income rises. (4) D. Laffer curve is a theoretical representation of the relationship between tax rates and the amount of tax revenue collected by governments. (2) Thus, the correct matching is A-3, B-1, C-4, D-2. - Lorenz curve: Further visually represented by the Gini coefficient. - Phillips curve: Represents a short-run trade-off, which may not hold in the long run. - Engel curve: Derived from Engel's Law regarding food expenditure proportion. - Laffer curve: Suggests that beyond a certain point, increasing tax rates may decrease tax revenue due to reduced economic activity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/match-list-i-with-list-ii-and-select-the-correct-answer-using-the-code-46\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Match List I with List II and select the correct answer using the code\" \/>\n<meta property=\"og:description\" content=\"Matching the curves with their indications: A. Lorenz curve is used to represent inequality in the distribution of income or wealth. (3) B. Phillips curve shows the inverse relationship between the rate of inflation and the rate of unemployment in an economy. (1) C. Engel curve describes how household expenditure on a particular good or service varies with household income. For necessary goods like food, the proportion of expenditure decreases as income rises. (4) D. Laffer curve is a theoretical representation of the relationship between tax rates and the amount of tax revenue collected by governments. (2) Thus, the correct matching is A-3, B-1, C-4, D-2. - Lorenz curve: Further visually represented by the Gini coefficient. - Phillips curve: Represents a short-run trade-off, which may not hold in the long run. - Engel curve: Derived from Engel's Law regarding food expenditure proportion. - Laffer curve: Suggests that beyond a certain point, increasing tax rates may decrease tax revenue due to reduced economic activity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/match-list-i-with-list-ii-and-select-the-correct-answer-using-the-code-46\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T03:40:47+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Match List I with List II and select the correct answer using the code","description":"Matching the curves with their indications: A. 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(2) Thus, the correct matching is A-3, B-1, C-4, D-2. - Lorenz curve: Further visually represented by the Gini coefficient. - Phillips curve: Represents a short-run trade-off, which may not hold in the long run. - Engel curve: Derived from Engel's Law regarding food expenditure proportion. - Laffer curve: Suggests that beyond a certain point, increasing tax rates may decrease tax revenue due to reduced economic activity.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/match-list-i-with-list-ii-and-select-the-correct-answer-using-the-code-46\/","og_locale":"en_US","og_type":"article","og_title":"Match List I with List II and select the correct answer using the code","og_description":"Matching the curves with their indications: A. Lorenz curve is used to represent inequality in the distribution of income or wealth. (3) B. 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