The more developed the economy, the more income distribution tends to converge towards the middle class.

Question

Quizplus · Accepted Answer

This is generally true as economic development tends to lead to increased opportunities for education, employment, and wealth creation, which in turn leads to a larger middle class. However, there are exceptions; for example, some countries may experience a concentration of wealth among a small elite despite overall economic development.

The More Developed the Economy, the More Income Distribution Tends