Assuming That the Gini Coefficient for Egypt Is 0

question 7

Multiple Choice

Assuming that the Gini coefficient for Egypt is 0.403 and the Gini coefficient for Australia is 0.404, it is possible to conclude that both Egypt and Australia have

• A)virtually the same number of households in absolute poverty.
• B)virtually the same percentage of households in absolute poverty.
• C)virtually the same level of the Human Development Index.
• D) None of the above.

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Definitions:

Standard Quantity

The predetermined or budgeted amount of materials expected to be used in the production of a product, based on efficiency and productivity standards.

Variable Overhead Efficiency Variance

The difference between the actual hours taken to produce a good and the standard hours expected, multiplied by the variable overhead rate.

Excessive Inventories

A situation where a company holds more stock items than necessary, leading to increased storage costs and potential wastage.

Materials Price Variance

This measures the difference between the actual cost of materials used in production and the standard cost expected for those materials, indicating how efficiently an organization is purchasing materials.