Which of the following is true about income inequality? After 10 years, the large majority of...
Which of the following is true about income inequality?
| After 10 years, the large majority of people in the lowest quintile moves up to a higher quintile. |
| Income inequality leads to social instability. |
| A system of income inequality discourages people to work hard and innovate. |
| None of the above is true. |
Homework Answers
Ans: After 10 years, the large majority of people in the lowest quintile moves up to a higher quintile.
Explanation:
Income inequality refers to the unequal distribution of household or individual income across the various participants in an economy. When after 10 years, the large majority of people in the lowest quintile moves up to a higher quintile, inequality will increase.
Thus, 1st option is correct answer.
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