Question

If a rise in incomes is the same proportion for both low-income and high-income workers, then poverty will rise and inequality will remain unchanged. then poverty will rise and inequality will rise. then poverty will fall and inequality will remain unchanged. then poverty will fall and inequality will fall.

Answer 1

Then poverty will fall and inequality will rise.

What is poverty?

• Being in a state of poverty means having few material possessions or little money.
• Numerous social, economic, and political factors can contribute to or be a result of poverty.
• There are two primary metrics of poverty used in statistics and economics: Relative poverty is the inability of a person to maintain a minimal standard of living in comparison to others in the same period and place.
• Absolute poverty is the comparison of income to the amount required to meet fundamental personal necessities, such as food, clothing, and shelter.
• Depending on the community or the country, many terms are used to define relative poverty.

What is income inequality?

• The disparity in how income is allocated among people or populations is known as income inequality.
• It is also known as the wealth gap, wealth disparity, wealth and income discrepancies, or the gap between the rich and the poor.
• Therefore, the poverty will fall and inequality will rise.

Know more about absolute poverty here:

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