Income distributions in developing countries are often so skewed that the richest households of very poor nations surpass the living standards of many high-income families in the developed economies.

Question

Quizplus · Accepted Answer

Income inequality in developing countries can result in a small elite having a disproportionate amount of wealth, while the majority of the population lives in poverty. This can lead to a situation where even the richest households in poor nations surpass the living standards of many high-income families in developed economies.

Income Distributions in Developing Countries Are Often So Skewed That