ECONOMICS
INCOME DISTRIBUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the economy is against families living in poverty
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more single-parent households
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educated/skilled workers are able to demand higher salaries
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lower/semi-skilled jobs (manufacturing) are not as available
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Detailed explanation-1: -“India’s economic slowdown may be the reason to blame for the decline in employment in the sector. With demand falling in the steel, power and construction industries, mining has suffered a hit, ” the bulletin stated. This comes as India’s economy is expected to contract by 8% in 2020-21.
Detailed explanation-2: -One of the main causes of income inequality in India is underemployment. A lot of people are working at posts and profiles which are not equivalent to their qualification which results in low productivity. This ultimately leads to income inequality.
Detailed explanation-3: -High levels of income inequality are linked to economic instability, financial crisis, debt and inflation.
Detailed explanation-4: -2.1 Globalization. 2.2 Superstar hypothesis. 2.3 Education. 2.4 Skill-biased technological change. 2.5 Race and gender disparities. 2.6 Incentives. 2.7 Stock buybacks.