Text
Q-00004026
Besides size of per capita income, what other property of income is important in comparing two or more societies?
Answer and Solution
Answer
Income distribution is critical. Two countries with the same PCI can have vastly different wealth gaps. For example, Country A (equal incomes) vs. Country B (extreme inequality) in Table 1.2.
Solution:
Income distribution is critical. Two countries with the same PCI can have vastly different wealth gaps. For example, Country A (equal incomes) vs. Country B (extreme inequality) in Table 1.2.
Watch Video Solution