Test Your Knowledge on Income Inequality

Test Your Knowledge on Income Inequality

This quiz will test your understanding of income inequality and its implications on society and the economy.

published on August 02
1/10

What is income inequality?

What is income inequality?
Equal distribution of income among individuals
Uneven distribution of income among individuals
Lack of income among individuals
Income earned from illegal activities
2/10

Which country has the highest income inequality?

Norway
South Africa
Switzerland
Canada
3/10

What is a Gini coefficient used for in relation to income inequality?

What is a Gini coefficient used for in relation to income inequality?
Measuring income inequality
Calculating average income
Determining tax rates
Estimating population growth
4/10

Which economic theory suggests that income inequality is a natural outcome of the market economy?

Which economic theory suggests that income inequality is a natural outcome of the market economy?
Socialism
Capitalism
Communism
Fascism
5/10

What is one potential negative impact of income inequality on society?

What is one potential negative impact of income inequality on society?
Increased crime rates
Higher levels of education
Improved healthcare access
Enhanced social mobility
6/10

How does income inequality affect economic growth?

How does income inequality affect economic growth?
Stimulates growth in all sectors
Encourages innovation and entrepreneurship
Can hinder long-term growth
Leads to lower unemployment rates
7/10

What percentage of global wealth is owned by the top 1% of individuals?

What percentage of global wealth is owned by the top 1% of individuals?
5%
45%
20%
65%
8/10

Which social factor is closely tied to income inequality?

Which social factor is closely tied to income inequality?
Family size
Education levels
Favorite color
Music preference
9/10

What is a possible solution to address income inequality?

What is a possible solution to address income inequality?
Decreasing funding for education
Implementing progressive tax policies
Reducing access to healthcare
Removing social safety nets
10/10

Which demographic group is often impacted the most by income inequality?

Which demographic group is often impacted the most by income inequality?
Retired individuals
Low-income earners
High-skilled workers
Politicians