ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Empirical estimates show that higher income inequality is associated with higher rates of poverty and increases in income inequality are associated with increases in poverty.

Detailed explanation-2: -The answer is a. Income inequality has increased steadily in the U.S. since 1970.

Detailed explanation-3: -Relative Poverty: It is defined from the social perspective that is living standard compared to the economic standards of population living in surroundings. Hence it is a measure of income inequality.

Detailed explanation-4: -Most common metric is Income Inequality, which refers to the extent to which income is evenly distributed within a population.