Q1. Inequality of income can be measured by: (I) Lorenz Curve (II) Gini Coefficient (III) Poverty Line (IV) Relative Poverty Choose the correct option:
A Only I
B Only I, II and III
C Only I, II and IV Correct
D Only II, III and IV
Explanation
The Lorenz Curve shows how income is distributed against cumulative population, and the Gini Coefficient summarises that inequality numerically. Relative poverty also compares income or consumption with the wider society, so it reflects inequality in living standards. The poverty line is mainly an absolute threshold for identifying poverty, not a direct measure of income inequality. Therefore the combination retaining Lorenz Curve, Gini Coefficient and Relative Poverty while excluding Poverty Line matches the published key.