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Bonus Quiz #3 (2D03)

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McMaster University
Rashid Khan

Bonus Quiz #3 Economic Issues 2D03 October 10, 2013 There are 10 True-False Questions. Read the questions carefully. If a part of a statement is false, then the whole statement is false. Use scan sheet. Circle A if the statement is true (T) and circle B if the statement is false (F). 1. Prevalence, a measure of disease burden, is a count of the number of people with the disease in a given population at a specific point in time. Incidence pertains to the number of people who acquire the disease during a given interval of time, such as a year. Usually presented as a rate, incidence is a direct measure of disease risk—higher incidence implies higher risk 2. If Gini coefficient is zero, it implies high concentration of economy’s income in high income people. If the Lorenz curve in Canada is a diagonal line, it implies high degree of income-inequality in Canada. 3. Theil’s index of inequality and Atkinson’s inequality measure the variance of income around the means. 4. Statistics Canada’s Low Income Cut-off (LICO) is one of the most widely used measures of absolute poverty in Canada. In other words, absolute poverty line is based on the minimum income necessary to meet a person’s basic needs (food, clothing and shelter). 5. According to Mike Veall, the richest 1 per cent accounted for a third (32 per cent) of all income gains from economic growth betwe
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