The gap in the standards of living between the IACs (like the U.S., countries of Western Europe, and Japan)and the DVCs of Africa, Latin America, and Asia have been narrowing significantly over the decades.

Question

Quizplus · Accepted Answer

While some developing countries have experienced economic growth, the overall gap in living standards between industrially advanced countries (IACs) and developing countries (DVCs) has not significantly narrowed, with many DVCs still facing challenges such as poverty, inequality, and lack of infrastructure.

The Gap in the Standards of Living Between the IACs