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Q.

Income ____ means the difference between the income earned by the rich and the poor.


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Detailed Solution

Income disparity means the difference between the income earned by the rich and the poor.
Income disparity is a common occurrence not only in emerging economies but also in developed economies. Income disparity alone has a direct or indirect impact on several economic variables. For instance, poverty and a nation's growth rate can be impacted by income inequality. The more the income disparity, the more the development of a country will be hindered.
 
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Income ____ means the difference between the income earned by the rich and the poor.